Credit Suisse
Hong Kong SFC suspends Credit Suisse prop trader
A convertible bond proprietary trader at Credit Suisse has left the bank after being suspended by Hong Kong’s Securities and Futures Commission (SFC) for alleged insider trading.
Credit Suisse hires Toone
Credit Suisse has announced the appointment of Alex Toone as managing director and head of global metal sales for its alliance with Switzerland-based commodities trading group Glencore International.
Credit Suisse overhauls equities division
Credit Suisse has restructured the management of its equities division, after revenues fell by 45% earlier this year.
Nine banks to build Mifid utility
Nine global securities firms have gone public with plans to create a trade data and market data dissemination platform, to take advantage of the EU’s Markets in Financial Instruments Directive (Mifid) reforms.
US companies face 57% increase in pension funding, says report
The passing by the US Congress of the Pension Protection Act earlier this month, which was signed into law by President George Bush yesterday, could result in some companies having to contribute 57% more to their pension funds, according to a report…
Credit Suisse and Glencore International in new metals alliance
Credit Suisse and Glencore International have today announced the formation of a derivatives and structured products trading business in base and precious metals.
Credit Suisse reorganises to promote structured retail products
Credit Suisse has launched a new structured retail products (SRP) platform as part of a global retail initiative that aims to integrate equity and fixed-income retail products.
Credit Suisse and Woori enter into JV
Credit Suisse and Woori Financial Group have signed a joint venture agreement to create an asset management company in Korea. The JV, which is expected to be operational from the end of May, will be called Woori Credit Suisse Asset Management.
Credit Suisse expands de Boissard's role to include forex
Credit Suisse has expanded Gael de Boissard's position to include management of its global foreign exchange sales and trading business, in addition to his current role as co-head of fixed income for Europe at the bank’s London office.
Standard confirmation for preferred CDS hammered out
Eight dealers have agreed upon standard documentation for preferred credit default swap (CDS) transactions. The new standards will likely enhance liquidity of the nascent market.
CDS IndexCo and Markit launch synthetic US CMBS index
CDS IndexCo and Markit have launched CMBX, a range of synthetic credit default swap (CDS) indexes of US commercial mortgage-backed securities (CMBS), which will trade from today.
IIC launches euro iBoxx ABS index
Frankfurt-based International Index Company (IIC) has launched the iBoxx EUR ABS 50 index, which consists of the 50 largest and most liquid AAA-rated European floating rate asset-backed securities (ABS) and mortgage-backed securities (MBS). Each…
CSFB launches longevity index
Credit Suisse First Boston released the first-ever longevity index today, which it hopes will enable standardised structuring and settlement of longevity risk transfer instruments such as swaps and structured notes.
CSFB buys more German NPLs
CSFB has bought a €300 million loan portfolio from the German mortgage bank Deutsche Genossenschafts-Hypothekenbank (DG HYP).
Another chance for enterprise-wide risk management
Are operational risk departments ready to take on the function of enterprise-wide risk management? Choongo Moonga reports
Major dealers issue joint letter to Fed on credit derivatives
The New York Federal Reserve meeting with 14 major dealers on September 15 appears to have succeeded in coercing the industry into taking more concerted action to tackle the mounting problems in credit derivatives confirmation backlogs. Following the…
FASB likely to announce fair-value pensions project in October
The US Financial Accounting Standards Board (FASB) will consider a proposal from its staff for the overhaul of pension accounting in October. Some analysts predict that it will subsequently add to its agenda a project to require mark-to-market accounting…
Isda’s ‘novation protocol’ aims to tackle derivatives backlogs
The world's major derivatives dealers have signed up to the International Swaps and Derivatives Association’s long-awaited ‘Novation Protocol’, which seeks to facilitate the transfer of existing trades to third parties.
Tradition offers property derivatives
Tradition Financial Services (TFS) has become the latest inter-broker to enter the property derivatives fray.
RBS raids Shinsei to establish leveraged finance business in Tokyo
Royal Bank of Scotland (RBS) has poached an eight-strong team from Shinsei Bank in Tokyo to extend its leveraged finance business into Asia.
Deutsche Bank strengthens forex structuring unit
Deutsche Bank has hired two foreign exchange structurers to work in its client strategy and solutions (CSS) group in London.
New cash CDO head at CSFB
Credit Suisse First Boston has promoted Greg Richter to co-head of its New York cash collateralised debt obligation (CDO) business, part of a wider restructuring of its CDO operations.
Barclays hires head of equity exotics trading
Barclays Capital has hired Nick Nassuphis as head of equity exotic and structured product derivative trading.
Market Axess and DTCC team up to offer CDS index trading system
Electronic bond trading platform company MarketAxess has teamed up with the Depository Trust & Clearing Corporation's (DTCC) and 11 global dealers to create an electronic client-to-dealer trading platform for credit default swap (CDS) indexes. The CDS…