Commodities
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Proxy-hedging problems
Taiwanese insurers
Goldman goes for Green
Investment bank Goldman Sachs has joined the Green Exchange as a "founding member," the exchange announced today.
Monolines - the nuclear option
XL Capital Assurance and Financial Guaranty Insurance Company (FGIC) face legal action by three banks after cancelling insurance contracts they had written on asset-backed securities transactions.
Bank Leumi launches agricultural structured deposit
Bank Leumi of Israel has launched a structured dollar deposit designed to provide exposure to a basket of agricultural commodities.
Dow Jones launches new single commodity sub-indexes
Dow Jones Indexes and AIG Financial Products have launched the Dow Jones AIG Platinum, Lead and Tin Sub-Indexes. The indexes have been licensed to ETF Securities, London-based provider of exchange traded commodities.
Meteor launches product offering 10% income
Meteor Asset Management (MAM) has launched the Solar Income Plan, a five-year product based on five major UK banks: Barclays, HBOS, HSBC, Lloyds TSB and RBS. The plan offers a fixed income of 10% per year or 0.8% per month. Capital is returned in full,…
RGGI allowance auction date announced
States participating in the Regional Greenhouse Gas Initiative (RGGI), an agreement among the Governors of ten Northeastern and Mid-Atlantic states to reduce greenhouse gases from power plants, have announced the date for the first ever CO2 allowance…
Green Exchange begins trading
In keeping with the green theme of St. Patrick’s Day, The Green Exchange, a partnership that incorporates brokers, traders, venture capital firms and investment banks commenced trading today.
Green Exchange begins trading
In keeping with the green theme of St. Patrick’s Day, The Green Exchange, a partnership that incorporates brokers, traders, venture capital firms and investment banks commenced trading today.
MF Global plunges amid liquidity fears
MF Global, the world's largest broker of exchange-listed futures and options, sought to reassure investors that it had sufficient funds despite seeing its share price fall by 78% following a spate of rumours to the contrary.
Tullett Prebon acquires Primex
Interdealer broker Tullett Prebon is to acquire petroleum products broker Primex.
Bank writedowns - is the worst over?
The credit crisis that has roiled the financial markets has wiped out massive amounts of value from banks' balance sheets, resulting in crippling losses for some banks. Most recently, HSBC announced a 79% rise in loan impairment charges and credit risk…
Oil falls after record week
Crude oil for April delivery closed down 12 cents to $110.21 a barrel on the New York Mercantile Exchange (Nymex).
Gazprom Marketing & Trading makes smart metering investment
Gazprom Marketing & Trading, the UK-based subsidiary of the Russian natural gas giant has taken an equity stake in a leading automated meter reading supplier.
Montreal Climate Exchange to launch carbon futures
The Montréal Climate Exchange (MCeX), a joint venture of the Montréal Exchange (MX) and the Chicago Climate Exchange (CCX) is planning to launch futures contracts on Canada carbon dioxide equivalent (CO2e) units on May 30, 2008, subject to regulatory…
Crude Oil surges to $107
The New York Mercantile Exchange (Nymex) benchmark oil contract has exceeded $107 per barrel in midday trading as the value of the US dollar continues to plunge
Crude rally continues as analysts eye $115 oil
West Texas Intermediate (WTI) crude for April delivery surged to over $105/bbl on Thursday as analysts questioned how much longer the rally could continue.
Nymex and LCH.Clearnet form clearing alliance
New York Mercantile Exchange (Nymex) and clearing house LCHClearnet will team up to offer two energy contract slates, one cleared by Nymex ClearPort in New York and the other cleared by LCH in London.
UBS offers food index for structured products and ETCs
UBS has announced the launch of the UBS Bloomberg CMCI Food Index which will be available through a variety of funds, exchange traded commodities and UBS structured products. The index is available in US dollars, euros and Swiss Francs and covers 13…
UBS and Bloomberg launch CMCI Food Index
The new UBS Bloomberg CMCI Food Index provides direct exposure to the food sector.
Turbulent times
Recent oil market turbulence has provided a tough test for airlineslooking to hedge their exposure to rising fuel costs as profits headinto a tailspin. David Watkins reports