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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/02/2001=
=20 03:09 PM --------------------------- "RiskNews Update" <listadmin@riskwaters.com< on 03/02/2001 12:30:06 PM To: List Member <vkamins@enron.com< cc: =20 Subject: - latest RiskNews Update - 02/03/2001 RiskNews Update - http://www.RiskNews.net RiskNews Update - http://www.risknews.net/ =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D RiskNews Update - week ending 02/03/2001 http://www.RiskNews.net News for derivatives and risk management professionals =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D Dear Subscriber, Welcome to RiskNews Update! An innovative Argentine bond issue that gained an above-sovereign rating, Enron=01,s moves to create a European bandwidth boom, further clever catastrophe protection from Swiss Re and awareness of a potential increase in institutional trading costs through the decimalisation of US equity markets represented some of the key headlines this week. The political risk insurance deal was put together by Sovereign Risk Insurance, a Bermuda-based joint venture between ACE and XL Insurance, which raised Argentina=01,s Salta Hydrocarbon Royalty Trust=01,s note issue= to investment grade debt. Notably, the ranking was higher than Argentina=01,s sovereign rating. Given the Basel Committee=01,s endorsement, similar deals are likely to emerge elsewhere. Enron, meanwhile, believes a liquid European bandwidth market will emerge within a year. The US firm is significantly ramping up its European energy operations. Swiss Re, which first put together earthquake protection deals in California in 1997, has developed yet another innovative reinsurance and investment capital deal to give $100 million protection to policyholders of the California Earthquake Authority. Meanwhile, the move to decimalisation and minimum price increments of one penny in the US equity markets could result in an overall decline in market liquidity and higher costs for institutional client trades according to research by US investment bank Goldman Sachs (see top story). Christopher Jeffery Editor, RiskNews Tel: 44 (0)20 7484 9880 mailto:cjeffery@riskwaters.com LOOK <<< Exclusive offer for subscribers of www.RiskNews.net ONLY! The Risk 2001 Europe Event Risk Magazine=01,s 6th Annual European Derivatives And Risk Management Congress held in Paris on 10 & 11 April 2001. Book NOW for Risk 2001 Europe and get 10% off the TOTAL cost of the event. Click here to go directly to the booking form: https://secure.riskpublications.com/secure/conferences/risk2001europe/risk2= 001 europe_risknews.htm ----------------------------------------------------------------- Don't miss this exclusive offer for you, or your colleagues, to receive a FREE copy of the March issue of Energy and Power Risk Management (worth US $33/o22/E39). Energy and Power Risk Management is a market leader, providing all the essential information you need on the new developments, issues and risks facing the global energy and power markets. Click here for the latest issue and the FREE offer: http://www.EPRMonline.com/freeissue_frame/index.htm?caller=3DRWG_update ------------------------------------------------------------------ RiskNews Update - 02/03/01 Headlines/ Technology and Exchanges/ People/ Events =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D Headlines - 02/03/2001 =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D 2 March =01) The move to decimalisation and minimum price increments of one penny in the US equity markets could result in an overall decline in market liquidity, and higher costs for institutional client trades. 2 March - London-based online risk consulting boutique Reech Capital has acquired French derivatives consultancy and application services provider services firm Netquant 2 March - Swiss Re New Markets and Goldman Sachs have used a combination of reinsurance and investment capital to arrange $100 million in funds that would be made available to California Earthquake Authority policyholders in the event of one or more earthquakes during the next 23 months 1 March - Enron Broadband Services, a wholly owned subsidiary of Houston-based electricity, gas and communications company, Enron Corporation, has launched online bandwidth trading in Europe 28 February - BNP Paribas Commodity Futures, a subsidiary of BNP Paribas, has launched a 24-hour energy futures and options brokerage service 28 February - Morgan Stanley Capital International has launched its new real-time index service, which includes indexes for derivative products that are updated every 15 seconds and are designed specifically for trading 27 February - Rumblings that China is planning to widen the trading band of the renminbi or break its peg with the US dollar have gone on for years, but People's Bank of China officials recently appear to have been testing the market's reaction 26 February - Sovereign Risk Insurance, a Bermuda-based joint venture between ACE and XL Insurance, has sold a political risk insurance policy that will raise an emerging markets bond issue from sub-investment grade to investment grade 26 February - The International Swaps and Derivatives Association is launching a new credit derivatives committee to deal with issues related to trading practices To read more now, click http://www.risknews.net ******************************************************************* The launch issue of TELECOMS CAPACITY is OUT NOW! Click here for your FREE copy (worth $27). Additionally, take advantage of our LIMITED SUBSCRIPTION OFFER and save 25% off if you subscribe before 30 April 2001. You will find both these offers and features from the launch issue available on http://www.TelecomsCapacity.com =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D Technology and Exchanges - 02/03/2001 =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D 2 March - The European Energy Exchange (EEX) yesterday launched Germany's first electricity futures market, ahead of rival Leipzig Power Exchange (LPX), which plans to introduce a competitor service within the next few months 2 March - The Chicago Board Options Exchange, the world's largest options exchange, will launch its new screen-based trading system, CBOEdirect, at the beginning of June 1 March - Goldman Sachs has added online exotic FX options in five currency pairs to its WebET internet trading system 1 March - Dublin-based alternative trading and asset management firm Greenhouse Capital Management is to replace its back-office risk management systems with futures and options software developed by France's Ubitrade, formerly known as ATSM 1 March - Eurex's electronic trading platform has started auctioning repos in the form of Swiss-registered money-market claims and Swiss federal bonds 28 February - Global over-the-counter derivatives electronic brokerage Icor, which has been beaten to market by chief rival Volbroker, has received a significant cash injection from the alternative investment fund unit of US insurance broker Arthur J Gallagher 27 February - Bank of Tokyo-Mitsubishi is building its online foreign exchange dealing capacity using Cognotec's AutoDeal Lite service 26 February - Merrill Lynch Investment Managers (MLIM) plans to strengthen its control of the credit and counterparty risk in its portfolios of assets under management by licensing an integrated risk management software package called Risk Vision from MKIRisk 26 February - The European securities arm of Bank of Tokyo-Mitsubishi, Tokyo-Mitsubishi International, is to use risk management software supplied by Canada's Algorithmics to manage its collateral risk for its derivatives trading activities To read more now, click http://www.risknews.net ******************************************************************* Have you seen the results of the joint Energy & Power Risk Management/Risk magazines' over-the-counter commodity derivative rankings? What have been the big changes in the past 12 months? Click here for online coverage: http://www.EPRMonline.com =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D People - 02/03/2001 =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D 2 March - BNP Paribas has appointed Sylvie Durham as head of corporate equity derivative products for North America. In the newly created position, Durham will be responsible for originating and marketing structured equity products for BNP Paribas' corporate client base 2 March - US investment bank Merrill Lynch has hired 10 new derivatives and capital market executives in its EMEA region, to boost its presence in a series of potential growth areas 1 March - New York-based trading and risk management software provider Summit Systems has appointed Joseph Bruno as its new director of sales, in an effort to concentrate on the sales side of the business 1 March - Tony McCormick, vice-president of derivatives markets at Charles Schwab, has been appointed to the board of directors at the Chicago Board Options Exchange 28 February - Dresdner Kleinwort Wasserstein, the investment banking arm of Germany's Dresdner Bank, has appointed David Schwartz, Richard Fedrick, Sylvie Botter and Roland Toussaint to its global debt derivatives marketing team, in a bid to expand its derivatives business 28 February - Rob van Paridon, US head of wholesale client business at ABN Amro, has been selected to succeed Erik Post as head of the Dutch bank's global futures business To read more now, click http://www.risknews.net ******************************************************************* SPECIAL OFFER from Risk Books: Buy any two Credit titles and get a third of your choice absolutely FREE! Click here for the Credit book titles: http://www.riskbooks.com/cluster_credit.shtml =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D Events - 02/03/2001 =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D Risk 2001 Europe =01) Risk magazine=01,s 6th annual European derivatives an= d risk congress, 10 & 11 April, Paris At this year=01,s Risk Europe Congress, an entire stream is dedicated risk management for investment managers. Key speakers on this stream include: Malcolm Kemp, Zurich Scudder Investments Limited, David Mordecai, University of Chicago Michael de Marco and Erwin Martens, Putnam Investments Stephen Rees, Baring Asset Management Dr B. Scherer, Deutsche Asset Management Kenrick Ramlochan, Bank of America Kelsey Biggers, Measurisk Pim Poppe, Robeco Group Donna Marie Howe, ABN Amro Peter Davies and Dr P. K. Satish, Askari Michelle McCarthy, Deutsche Bank Group Edward Fishwick, AXA Investment Management (http://www.risk-conferences.com/risk2001euro) At no other event will you hear from these leading market participants, who will deliver cutting-edge presentations, focusing on the key risk management issues facing the investment industry in Europe. Congress keynote presentations from: Bob Litzenberger, Goldman Sachs Andrew W. Lo, Massachusetts Institute of Technology Other conferences coming soon: Monte Carlo techniques, London 8 & 9 March 2001; New York 12 & 13 March 2001 Accounting for energy derivatives, Houston 26 & 27 March 2001 Practical accounting for derivatives, London 2 & 3 April 2001; New York 19 & 20 April 2001 ALM 2001 =01) Risk Magazine=01,s 7th annual Conference =01) New York 21 & 2= 2 June 2001 Risk 2001 USA =01) Risk magazine=01,s 7th annual US derivatives and risk management congress, Boston 12 & 13 June 2001. For further information contact: http://www.risk-conferences.com http://www.risktraining.com =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D= =3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D All of Risk Waters Group online services can be accessed through http://www.riskwaters.com ______________________________________________________________________ To unsubscribe, write to financewise-unsubscribe@listbot.com
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