« April 2006 | Main | June 2006 »
Crispin Odey, one of the grandees of the London hedge fund world, said yesterday in the Times that the industry could be doomed. He likened it to the disaster that was the Lloyd's of London insurance market in the 1980s. You can read the rest of the article here.
There is a wealth of Exchange merger talk in all the broadsheets. Yesterday NYSE offered USD10bn for Euronext. Nasdaq has built a 25.1% stake in the London Stock Exchange. Today, The FT reports that Deutsche Börse has outlined details of its proposed merger with Euronext with a USD11bn bid. A later FT report today suggests Euronext has dismissed the D Börse bid as misleading. The Independent has an interesting article stating the inexorable drive towards consolidation of the world's biggest stock exchanges has been fuelled by the promise of hefty cost savings and by a need for scale. The Times says the full merger of dealing platforms is a distant aim for NYSE-Euronext.
Our client is a global leader in the provision of independent equity research. Their research gives incisive analysis and rigorous valuation of publicly quoted companies across Europe. We seek an experienced equity analyst in the Utilities industry to be based in London. The target coverage is Pan-European utilities such as Centrica, Endesa, Enel, Fortum, Iberdrola, National Grid Transco, RWE, Scottish Power, Suez, Veolia Environnement. We will consider candidates with a comprehensive understanding of company strategies, a deep appreciation of sector issues and top class communication skills. Preference will be given to individuals who have worked in these sectors as analysts on the buy-side, sell-side or had appropriate strategy/finance roles within leading firms in the utilities sector. We would also consider individuals with a relevant sector focused strategy/consulting background.
For more information, please contact Aine Hall.
Our client seeks an experienced professional to join their analytical team in London as a credit ratings specialist. Ideally you will have 2/3 years working or analysing banks, banking sectors or counterparty credit. You will be looking for a steep learning curve with the desire to do more advanced analytical work down the line. You will have strong analytical capabilities with a deep understanding of financial statements and accounting concepts. For more information, please contact Aine Hall.
We seek a swaps reporter to cover NY hours from London. You will produce insightful flow based reports on the American (USD, CAD, Latam and USD Inflation) markets, incorporating trading levels, points of activity (outright, curve plays, butterflies) and changes to yield curve gradients, simple swap/benchmark spreads and outright direction. You will also report on issuance-related swapping intentions by borrowers as well as assessing any new-issuance related hedging activity on swap desks of the transactions' lead managers. The role will suit someone already reporting on this market or someone who has been on a broking desk.
For more information about this role please contact Aine Hall.We have just seen on RNS that Nasdaq has increased its shareholding to 22.7% of the issued share capital of LSE. Bob Greifeld, President and CEO of Nasdaq announced, " We are pleased to have increased our strategic stake in LSE through this significant purchase, which takes us through the important threshold of 20%. We look forward to working constructively with LSE as its largest stakeholder."
We are looking for a French speaker to join the DMA/electronic execution business of a well known European bank. The position will be based in either London or Paris and candidates should have several years successful sales experience gained in equity market connectivity.
To apply please contact Paul Chambers.We seek a Sales Support Executive to join the eBrokerage team of a European investment bank. You will represent a suite of electronic trading products. You will work directly with clients, advising on the best system to meet their requirements. You will oversee installations, provide training and ensure excellent client service. You will already be working in an e-commerce Client Services role and will know equity markets. Fluency in French is desirable. The role is based in London.
The Chicago Mercantile Exchange and Reuters have announced plans to create FXMarketSpace, the world's first centrally cleared, global foreign exchange marketplace through a new 50/50 joint venture company. They say they will pool their expertise in data dissemination, distribution, trade matching and central counter-party clearing services. Their announcement states the JV is subject to regulatory approval which is expected early next year. Last month Lava Trading announced plans to launch an interbank FX platform.
