News/Risk management/Exchanges

CME and Citadel plan CDS exchange

Chicago-based exchange operator CME Group and hedge fund management firm Citadel Investment Group are set to launch a fully integrated trading and clearing platform for credit default swaps (CDSs).

LCDX index roll postponed indefinitely

London-based data provider Markit is postponing the roll of its LCDX index of 100 North American loan credit default swaps (LCDSs) until negotiations for a new single-name US LCDS contract are finished.

SEC extends short selling ban

The US Securities and Exchange Commission (SEC) has extended its ban on the short selling of financial stocks to October 17, in order to give the US Congress time to vote through measures aimed at stabilising the financial markets.

CDS spreads on Icelandic banks hit new highs

The injection on Monday of €600 million from the Icelandic government to acquire 75% of Glitnir Bank has done nothing to ease fears over the bank’s future. Glitnir’s five-year credit default swap (CDS) spreads are now the highest of any European bank,…

CDS spreads tighten as bailout is revised

The cost of protection on some of the world’s largest financial institutions fell yesterday as the US Senate agreed to vote on a revised version of the $700 billion financial rescue plan.

Looking over the counter-arguments

A UK government panel investigating the role of speculators in global crude oil markets has called for more transparency in the opaque over-the-counter (OTC) market, writes Roderick Bruce

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