Intercontinental Exchange's (Ice) application to become a member of the Federal Reserve System has been approved by the US central bank, overcoming one of the final obstacles preventing the firm from launching its central clearing platform for credit...
Implied dividends beyond 2009 remain at highly distressed levels, creating torment for dealers and hedge funds with dividend exposures, but providing opportunities for market participants elsewhere.
ICE Futures Europe has introduced margin offsets between its Coal Futures and Emissions contracts.
Counterparties to derivatives trades with Lehman Brothers that are currently in-the-money for the bankrupt estate will not be able to hold off payment indefinitely, predict lawyers.
A new scheme for adjudicating on credit event auctions, consisting of a centralised committee, will replace the old system of ad hoc decision-making
Counterparties may find that the legal process is stacked against them if they continue to resist payment of outstanding derivatives contracts with the bankrupt Lehman Brothers, say lawyers
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At an auction held today, data vendor Markit and broker Creditex determined a final settlement value of 10.875% for loan-only credit default swaps (LCDS) referencing Italian luxury yacht manufacturer Ferretti, meaning protection sellers would need to...
Plans to reshape the US single-name credit default swap (CDS) market are causing concerns among some credit portfolio managers, due to a limit on their ability to get capital relief for hedges under Basel II.
Ambac saw a fourth-quarter net loss of $2.3 billion, a slight improvement on its performance in the third quarter of 2008, when it lost $2.4 billion and a notable improvement from its showing in the fourth quarter of 2007, when it shed $3.3 billion.
JP Morgan cut its quarterly dividend from 38c to 5c a share yesterday, in a bid to build up $5 billion in additional capital reserves.
The global carbon market will see a 20% boost in volume in 2009, according to the latest figures from Point Carbon.
Despite being the only firm to launch a centralised clearing platform for credit default swap (CDS) index trades, London-based derivatives exchange NYSE Liffe has yet to clear any trades, a situation it blames on the uncertain regulatory landscape in...
A proposal by a consortium of major derivatives dealers to acquire London-based clearing house LCH.Clearnet has led to suggestions that banks becoming intimately involved in the clearing process could present a conflict of interest.
European Central Bank president Jean-Claude Trichet backed a central counterparty (CCP) for clearing credit default swap (CDS) trades in the eurozone today, in a speech that also called for banker compensation to be linked to avoiding excessive leverage.