Zero-coupon woes for DZ

- By FX Markets Staff
- @FXMarkets_
- 10 Feb 2003

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

The bank will book trading losses of e40 million due to its interest rate swaps positions for 2002, and will write down exceptional losses expected at more than e100 million in last year’s account, also associated with the swaps.

The losses are related to zero-coupon swaps entered into by the former DG Bank in 1997, before it merged with GZ Bank in 2001. When DG Bank upgraded its trading and risk systems in 1999 to a service provided by Summit Systems, a unit of UK systems provider Misys, swaps

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.

If you would like to purchase additional rights please email info@fx-markets.com

You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.

If you would like to purchase additional rights please email info@fx-markets.com

More on Trading Systems

Trading Systems

Technology trends in capital markets: transforming the sell-side FX front office

The capital markets landscape is witnessing a technological revolution – a wave transforming the sell-side FX front office. Firms such as smartTrade Technologies are at the forefront of this transformation, leveraging technologies such as artificial…

08 Sep 2023

Trading

Leveraging data in e-FX trading

In a world where electronic trading has infiltrated virtually every aspect of today’s FX market, having access to data and the means to interpret it are fundamental components of a successful e-FX strategy, writes Daniel Chambers, head of Data &…