Credit derivatives trade matching and processing services provider T-Zero has hired George Harrington as Chief Operating Officer.
Launched in the summer of 2005, T-Zero claims to have gained strong momentum over the past year as an increasing number of dealers, buy-side market participants and prime brokers sign on for the service. The company claims to have experienced a 338% growth rate in the second half of 2006 compared to the first have of the year.
Patsystems says Nomura Securities International, Inc. in the US has bought its complete trading platform, including the Pro-Mark front-end for high-volume professional traders. Also in the initial phase, Patsystems will provide Nomura with access to CME (Chicago Mercantile Exchange), CBOT (Chicago Board of Trade), Euronext.liffe and Eurex. This contract follows Patystems' announcement, earlier this month, of a contract signed with US-based Midas Securities to provide Midas with front-end trading systems.
Mellon Financial Corporation has introduced an independent, over-the-counter derivative (OTC) valuation service for a range of swaps and options to institutional clients. Mellon will provide these valuations through third-party vendors, at the direction of the institutions in question.
SuperDerivatives, a provider of option pricing, independent revaluation, trading and risk management systems, has released a new version of SD-IR", its interest rate options and structured products platform. The enhancements made to the system are based on feedback from clients worldwide in banks, hedge funds, asset managers and corporations.
Swiss Stock Exchange Services (SWX Group) and Deutsche Borse today combined their trading facilities in structured products. The supervisory board of Deutsche Borse and the federal cartel office (Bundeskartellamt) have given their approval for the partnership to go ahead. Contrary to previous announcements, the new c
Celent predicts that the operational risk and compliance market will grow to $1.16 billon by 2009.
Risk-driven regulatory initiatives, like Basel II and the Sarbanes-Oxley Act, have significant momentum and are giving rise to new operational risk management practices, says the consultant.
In 2007 credit derivatives markets will continue to grow in terms of outstandings, and in the range of instruments on which they are based, but look out for the impact of private equity financings on credit quality. These were chief among the conclusions of an OTC derivatives media briefing hosted by GFI Group - an inter-dealer broker specializing in OTC products - in New York City shortly before Christmas.
Inter-dealer brokerage firms GFI Group and ICAP have joined forces with The Clearing Corporation of Chicago to develop clearing services for over-the-counter (OTC) derivative instruments, including credit and interest rate derivatives.
OTC derivative valuations vendor SuperDerivatives says that Grant Thornton Greece has licensed a comprehensive set of its tools, including all of its option pricing and analytics platforms. It will serve as the basis for the firm's audit work surrounding IAS39, IFRS 7and UCITS III and in preparation for the MiFID regulations.
Interwoven, the owner of the Scrittura messaging technology that enables buy and sell-side clients to communicate details of OTC derivative transactions without manual processing, says its clients will now be among the first to have access to the full range of post-trade processing services provided by the Depository Trust & Clearing Corporation (DTCC) through the Deriv/SERV Trade Information Warehouse the American CSD unveiled last month.