Foreign exchange
FSA admits failings
Editor's blog
Barclays Wealth enhances Defined Returns Plan
Barclays Wealth has launched a new Defined Returns Plan linked to the FTSE 100 index, with an improved annual kick-out option and greater pay-offs for its three and five-year investment options.
Banks sued over ARS lockdown
Morgan Stanley, UBS, Merrill Lynch and Deutsche Bank have been named as defendants in the first wave of legal action by investors left holding illiquid auction rate securities (ARS).
Icap expands property derivatives business into Asia-Pacific
Icap has expanded its property derivatives business into the Asia-Pacific region. The new office will be headed by George Dranganoudis in Singapore, who has held senior roles at the UK-based interdealer broker in Asia and Europe in the past decade.
Bank of Russia and ECB announce joint banking supervision initiative
Daily news headlines
SEC chairman backs update to liquidity guidelines
Daily news headlines
Yates rises at Credit Suisse
Simon Yates has been named as co-head for global securities in the Emea region for Credit Suisse, a newly created role that Yates will add to his role of head of global equity derivatives. Yates will report to Mike Ryan globally and to Eric Varvel on a…
Barclays Wealth to cut short Guaranteed FTSE Account
Barclays Wealth has announced that it will discontinue its tax-free, six-year Guaranteed FTSE Account on April 4 due to changes in Isa rules.
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.
JP Morgan raises Bear Stearns offer to $1.18 billion after shareholder unrest
JP Morgan has raised its proposed purchase offer for Bear Stearns to $10 a share in a move designed to assuage the anger of Bear shareholders incensed by JP’s initial offer of just $2 a share.
FSA goes on the warpath
Editor's blog
Deutsche Bank launches first short sector ETFs
Db x-trackers, the Exchange Traded Fund (ETF) arm of Deutsche Bank, has launched the first ETFs on short sector indexes in Europe. The five ETFs are linked to the Dow Jones Stoxx 600 short sector indexes and offer short or inverse exposure to European…
NDFA launches capital secure fixed growth plan
NDFA, provider of structured products in the UK, has launched the five-year Capital Secure Fixed Growth Plan March 08 offering a 45% fixed return. The plan, which provides full return of capital, is linked to the FTSE 100 and offers 45% return without…
ETF Securities launches 33 leveraged ETCs and 4 new commodities
ETF Securities has launched 33 leveraged Exchange Traded Commodities (ETCs) and four new commodity indexes, comprising cocoa, lead, tin and platinum. The new ETCs are available on the London Stock Exchange (LSE) and add to the total of 110 ETCs created…
Barclays Stockbrokers launches new income investment note
Barclays Stockbrokers has launched the Regular Income Investment Note, linked to the performance of the FTSE 100 index. The five-year note offers quarterly income payments equivalent to 7% gross per year.
GSEs plan $2 trillion in US mortgage purchases
Fannie Mae, Freddie Mac and their regulator, the Office of Federal Housing Enterprise Oversight (OFHEO), have announced an initiative potentially worth $2 trillion to increase liquidity in the troubled US mortgage market.
Morgan Stanley offers new currency ETNs
Morgan Stanley has issued two new exchange traded notes (ETNs) linked to the Chinese Renminbi and the Indian Rupee. Each note will be listed on the Arca platform of the New York Stock Exchange (NYSE), and investment manager Van Eck Global will market the…
S&P launches first real-time currency indexes
S&P has launched the first real-time currency indexes, the S&P Chinese Renminbi index and Indian Rupee index, which are designed to provide exposure to emerging economic countries that currently lack a liquid currency futures market.
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…
Tullett Prebon acquires Primex
Interdealer broker Tullett Prebon is to acquire petroleum products broker Primex.
Fed will support securities market directly
The US Federal Reserve Bank will start backing primary securities dealers as well as banks through its discount in another attempt to stave off a general financial collapse, it announced yesterday.