Regulation/Exchanges
Finra scrutinises muni-bond market; US Treasury creates Consumer Financial Protection Agency
The US Financial Industry Regulatory Authority (Finra) has launched an investigation into financial institutions' underwriting derivatives contracts used by US municipals to finance debt at lower costs.
The usual upsets
Regulation
Put to the test
Stress-testing
Let the right one in
Structured Products
Nomura offers protective safeguards with Flexis
Nomura has launched Flexis, a new structured product that offers protective safeguards to calm the default, valuation and liquidity concerns of investors. The predefined process for the resolution if an arranger defaults - in the form of resilience…
Isda aims to improve collateral management processes
The International Swaps and Derivatives Association’s collateral committee has revealed a set of goals for improvements to collateral management processes.
Waxman-Markey early action provisions criticized as unclear
Industry commentators have spoken out about the provisions for early adoption of carbon emission reduction strategies in the cap-and-trade legislation currently going through the US House of Representatives.
World Bank: recession will be deeper than expected
The worldwide recession will be far more severe than originally thought, with the global economy set to shrink 3% this year, warned World Bank president Robert Zoellick yesterday.
US Congress: Banks may need more stress tests
A Congressional report into the stress tests imposed by the US Treasury on leading US banks earlier this year has warned that the stress scenarios used might have been too mild, and that the tests may have to be repeated later this year.
EU consults on Sepa migration deadlines
Daily news headlines
Industry opposes mandatory clearing
Compulsory central clearing is not a one-stop solution to the problems of the derivatives markets, and could end up crippling the industry, warned speakers at an industry event in London on Tuesday.
OTC Global Holdings pushes into agricultural products
Interdealer broker OTC Global Holdings (OTCGH) has announced the acquisition of two Chicago-based firms, Futures International and T&J Shuff Enterprises, specialising in agricultural futures and options contracts in corn, wheat, soybeans, soybean meal…
CFTC targets dealers, leverage and counterparty risk
Gary Gensler, the new chairman of the US Commodity Futures Trading Commission (CFTC), outlined tighter restrictions on derivatives dealers and traders in testimony to the US Senate yesterday.
OMG commits to new clearing and reporting targets
The Operations Management Group (OMG) on June 2 outlined its latest targets to improve the operational infrastructure of the over-the-counter derivatives industry.
Industry prepares for OTC regulation debate
The US Government has initiated what is set to be a lengthy and complex debate over proposals for the regulation of over-the-counter derivatives, finds Pauline McCallion
Sheikh Yamani: Saudi Arabia unlikely to embrace oil futures
In an interview this week, former Saudi oil minister Sheikh Yamani told Energy Risk that futures trading on exchanges had turned the global crude oil market into a "casino".
EC pushes for stronger financial co-operation
Daily news headlines
Australia lifts ban on short selling
The Australian Securities and Exchange Commission (Asic) lifted its ban on covered short selling on May 25, just over seven months after it was originally imposed.
Remuneration revisited
Daily news headlines
Forex freefall
Asia Risk FX Review & Outlook 2009 - Funding