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Japanese firm plucks banker from UBS
The Americas derivatives community came together in New York to recognise and celebrate outstanding achievements across the industry
The derivatives market gathered in London on Thursday night to celebrate its leading players
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The derivatives industry should adopt open industry standards such as the FIX protocol to lower risk and improve transparency, according to Steve Grob, director of group strategy at Fidessa in London.
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The dust is still settling from the results of the Asset Quality Review and bank stress tests, but it seems clear that the catharsis European officials hoped for has not materialised. The AQR, in particular, was worthwhile and bank balance sheets are more transparent. But it doesn’t follow that Europe’s banks will now embark on a lending spree. Lack of demand remains the underlying problem, which could present a challenge for Monte dei Paschi di Siena. Meanwhile, deflation looms — a scenario, incidentally, that the stress tests didn’t consider. -
A review of the fixed income, currency and commodity markets in the UK is likely to spark further debate surrounding the way in which regulators define derivatives instruments. The Fair and Effective Markets Review launched by the Bank of England on Monday invites market participants to help judge the regulatory changes that have been made to the industry in the UK, in order to assess whether these are adequate to ensure safer markets and better trading practices in the future.
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Phil Cramp, ex-head of credit for Europe, Middle East and Africa at ICAP in London, is set to join BGC Partners as head of credit, repo and European government bonds in London from December 1.
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Market participants have relentlessly been selling risk-reversals and volatility on the dollar against the yen, as the spot rate on the pair has largely remained range-bound over recent days.
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Deutsche Bank has hired a new head of fixed income and currencies structuring, who will also lead a project to analyse trading positions right across the investment bank and allocate capital appropriately
