Foreign exchange
Deutsche Bank lists hedge fund and carbon ETFs on LSE
Deutsche Bank has listed its hedge fund exchange-traded fund on the London Stock Exchange. The listing of the Ucits III compliant ETF, based on the db Hedge Fund Index, which follows the launch of a euro-hedge version on the Xetra Frankfurt in March, is…
Tarp inspector general calls for more clarity on banks' use of funds
The US Treasury's special inspector general for the Troubled Assets Relief Program (Tarp), Neil Barofsky, has called on the Treasury to force banks to report their use of the Tarp's bailout funds. But the Treasury is reluctant to do so.
Doubt over Fed’s ability to limit systemic risk
The Obama administration’s proposals for safeguarding the financial system place the US Federal Reserve at the heart of a new regulatory regime for systemic risk, but some former regulators are sceptical of the Fed’s ability to carry out the job.
Walker Review ruffles feathers in the City
Editor's blog
Race against the clock for European CDS CCPs
With just two weeks remaining until the European Commission’s deadline for central counterparties (CCPs) to begin clearing credit default swaps (CDSs), two of the competing platforms are still waiting for regulatory approval.
Carbon market VAT scrutiny shifts to Climex
The Dutch government has announced changes to the way carbon permits will be taxed, following concerns about a 49% leap in volumes on Dutch carbon exchange Climex in June. The growth came despite an overall drop in trading volumes across all European…
TSE targets Japanese banks for CCP
The Tokyo Stock Exchange (TSE) is courting domestic financial institutions to become clearing members of its proposed central counterparty (CCP), which it is developing alongside its 86.3%-owned clearing arm, Japan Securities Clearing Corp (JSCC).
TriOptima sees surge in interest rate swap tear-ups
Stockholm-based technology company TriOptima has eliminated $13.9 trillion in notional outstanding from the interest rate swaps market in the first half of 2009, more than the $13.6 trillion total eliminated in 2008.
Trayport links cleared OTC energy trades to LCH.Clearnet
Trading software provider Trayport has announced that it will now offer automated clearing for energy OTC trades on LCH.Clearnet.
Nabucco pipeline construction deal agreed
Five transit countries have signed an agreement to construct the €8 billion, 3300 km Nabucco natural gas pipeline.
Quant Congress: Don't confuse models with reality, says Derman
Models were not responsible for the financial crisis, but those using them need to remember the shortcomings of models in general, asserted Emanuel Derman, head of risk at Prisma Capital Management and professor at Columbia University, at Risk 's Quant…
Central clearing will need new laws, Isda report finds
New laws will be needed in the US and Europe to support the introduction of central clearing of credit default swap (CDS) trades, according to a study published yesterday by the International Swaps and Derivatives Association.
BofA-Merrill hires Zaimi to head FICC and structured products sales
Bank of America Merrill Lynch has named Sanaz Zaimi as head of Fixed Income, Currencies and Commodities (FICC) sales for Europe, Middle East and Africa (EMEA), as well as head of debt and equity Structured Products Sales for the same region.
S&P expands custom index business to fixed income and commodities
Standard & Poor's is expanding its custom index business beyond equities, currencies and real estate as client demand increases for non-correlated asset classes. The index provider will now be able to construct offerings based on commodities and fixed…
Definition of 'standardised' OTC derivatives will be broad, says Geithner
Full regulation of all over-the-counter derivatives will use a broad and flexible definition of 'standardised' OTC contracts while regulators will seek to crack down on end-users seeking to customise trades to escape central clearing, US Treasury…
Euroclear to launch same-day securities settlement in Asia
International central securities depository Euroclear Bank plans to offer same-day cross-border securities settlement in four Asian markets - Australia, Japan, Hong Kong and Singapore - in August, stealing a march on rival Clearstream, which has similar…
UK Treasury gives FSA new powers
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Singapore's MAS bans 10 retail structured note distributors
The Monetary Authority of Singapore (MAS) has banned 10 financial institutions from selling structured notes, after their clients lost S$401 million by investing in Lehman-linked structured credit products.
TriOptima tear-ups cut CDS notional by $9 trillion
Swedish technology company TriOptima eliminated $9 trillion in notional outstanding from the credit default swap (CDS) market in the first half of 2009, the firm announced on July 9.
US PPIP toxic securities scheme launches, fund managers named
The US Treasury's scheme to purchase toxic mortgage-backed securities was officially launched yesterday with the unveiling of the asset managers charged with investing public funds, while officials sought to quell claims the scheme has been dramatically…
Cesr proposes Europe-wide disclosure of short positions
Investors across Europe could be compelled to reveal short positions in any stock, under draft rules published today by the Committee of European Securities Regulators (Cesr).
UK government moves to resolve supervisory turf war
In his long-awaited banking white paper published today, UK Chancellor of the Exchequer Alistair Darling has attempted to draw a distinction between the tripartite authorities, creating a Council for Financial Stability to promote better co-ordination of…
Carbon traders reject EDF Energy’s price floor calls
Carbon market participants have criticised calls by EDF Energy chief executive Vincent de Rivaz for a carbon price floor.
Cebs consults on liquidity buffers
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