News/Risk management/Exchanges
Banks agree to EU CCP for clearing CDS
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More MCAs needed to meet equity derivatives targets
Participants in the equity derivatives market say a significant amount of work remains to be done on standardising documentation before it can meet regulators' electronic processing targets for over-the-counter trades.
Banks agree to EU CCP for clearing CDS
Nine major dealers agreed to use an EU central counterparty (CCP) for clearing trades in credit default swaps (CDSs) today, paving the way for talks to resume with the European Commission.
Auction fixes low recovery rates for Smurfit-Stone CDS
At an auction held today, data vendor Markit and broker Creditex determined final settlement values for credit derivatives trades referencing St Louis- and Chicago-based paper-packaging company Smurfit-Stone Container.
Icap clears first ag swap through ICE
Interdealer broker Icap has executed the first ever cleared agricultural swap transaction through IntercontinentalExchange clearing house ICE Clear US. Regulatory approval for such transactions was granted by the CFTC in December last year.
Asian airlines struggle with volatile oil prices
A major contributor to the large fuel-hedging losses suffered by Chinese and Taiwanese airlines for 2008 were collar strategies - the purchase of call options and simultaneous sale of put options. But some Asian carriers, such as Malaysia's Air Asia and…
Eight CEOs face congressional bonus questions
The need for discretionary pay was one of numerous thorny issues put to chief executives of eight major banks during a hearing of the US House Financial Services Committee in Washington, DC.
Budgets hit internal and external systems: encourage holistic approaches
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Auctions held for CDSs referencing Nortel Networks
An auction run by data vendor Markit and broker Creditex today determined final settlement values for credit derivatives trades referencing Toronto-based telecommunications company Nortel Networks Corp.
SNB issues US dollar debt to fund UBS's bad bank
The Swiss National Bank (SNB) will auction its own debt certificates in US dollars to finance its loan to the SNB Stabfund.
European CDS regulation 'inevitable' - EC official
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Clearing CDS for lift-off
A new single-name North American credit default swap (CDS) contract, due to be launched next month, is expected to bring greater standardisation to the market and pave the way for central clearing.
European CDS regulation 'inevitable' - EC official
The European Commission (EC) is moving ahead with plans to enforce central clearing of credit default swaps (CDSs), despite a plea by the International Swaps and Derivatives Association (Isda) to resume dialogue on the issue.
JP Morgan CDS pricing model to be made available via Isda
JP Morgan's credit default swap (CDS) Analytical Engine will be released as open source code soon via the International Swaps and Derivatives Association (Isda). Isda believes the model - which is used to price CDS contracts - will increase transparency…
Auction sets settlement values for LyondellBasell companies
An auction run by data vendor Markit and broker Creditex determined final settlement values for credit derivatives trades referencing three US-based subsidiaries of Netherlands-based chemical company LyondellBasell, today.
US agriculture committee plans to ban naked CDSs
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