Feature
The Thomson test
A restructuring of debt by Paris-based media and electronics firm Thomson has provided an early test for the small bang protocol. The initial stages of the settlement process highlighted a number of outstanding issues, not least the treatment of index…
Trouble brewing
Despite early signs the US recession may be over, the short-term future for many of the country’s small and medium-sized banks looks grim as they struggle to deal with mounting losses on whole loan portfolios. By Rob Davies
Fixed returns?
Banks have reported huge profits this year in fixed income, with swaps desks benefiting from flows off the back of sovereign and corporate debt issuance. Exotic desks, in contrast, have seen a substantial decline in investor interest. Peter Madigan…
A matter of trust
More than a year on from the collapse of Lehman Brothers, administrators are still trawling through the estate of Lehman Brothers International (Europe). A scheme of arrangement designed to speed up the return of trust assets to clients failed to win…
The liquidity lifeline
The Basel Committee intends to introduce internationally binding liquidity standards, to include both a requirement for a liquid assets buffer and longer-term structural funding constraints. How will the measures be calculated and what will the…
Taking a health check
When global economic recovery eventually takes place, it is essential energy trading organisations are in a position to capitalise on market changes. Julie Shochat and Ryan Rogers of Enite set out some guidelines
Power adaptor
Alpiq Group was created at the beginning of 2009 as a result of the merger of Swiss utilities Atel and EOS. Peter Heydecker, head of trading and services, talks to Rachel Morison about Alpiq’s culture and presence in European power markets
Too much of a good thing
The price of US natural gas has hit record lows, but with storage fit to burst and demand in the doldrums, any hope of a price pick-up may remain a pipe dream for now, writes Pauline McCallion
Get ready for the revolution
Global events and climate change have fundamentally changed the face of energy procurement. Chris Bowden of Utilyx looks at the issues facing energy-intensive businesses in the UK
Building demand
One year after the collapse of Lehmans, fundamentals for the energy and metals markets continue to evolve, with emerging market demand, especially from China, set to have an increasing impact. Pauline McCallion discusses the outlook with experts
Deal of the year - Babcock International
Longevity swaps have been talked about as a solution to pension schemes’ longevity risk management challenges for some years. But this year Babcock International turned theory into practice when it became the first fund to complete a deal. Andrew sheen…
Multinational insurer of the year - Allianz
A nurturing of its capital base and an ability to react positively to unfavourable market events has made Allianz Life & Pensions’ multinational insurer of the year. Aaron Woolner reports