Foreign exchange
EU Commission makes Mifid request to 24 countries
All but three of the EU’s 27 member states will receive formal requests to implement the Markets in Financial Instruments Directive (Mifid) by November this year.
Turkish financial authority expected to decide on Basel delay in days
The Banking Regulation and Supervision Agency, which oversees the Turkish finance industry, will decide over the coming days whether to delay Basel II implementation, according to Ergun Özen, general manager of Garanti Bank, one of the jurisdiction’s…
Deutsche Bank chief lauds Basel II
Josef Ackermann, Deutsche Bank’s chief executive, has said financial regulators should follow Basel II’s lead and seek to co-operate internationally more often.
Liffe to launch time pro-rata algorithm for STIR futures
Euronext’s derivatives business Liffe has developed a new trade matching algorithm for its short term interest rate (STIR) futures contracts, which will include a time element in the allocation process.
Poll reveals majority worry over Mifid best execution
Almost 60% of risk professionals surveyed were highly concerned about the best-execution clause included in the EU’s Markets in Financial Instruments Directive (Mifid).
Basel Committee head credits framework with resilience
Nout Wellink, chairman of the Basel Committee on Banking Supervision (BCBS) and chief of the Netherlands’ central bank, said that Basel II has helped both financial institutions and systems become more resilient.
BIS confirms continuing importance of carry trade
Foreign exchange carry trades continue to be a main driver of global exchange rate movements, according to the Bank for International Settlements' 2007 annual report.
Derivative Fitch launches beta CFXO model
Derivative Fitch has today released a beta version of its Vector CFXO model for collateralised foreign exchange obligations (CFXOs), aimed at increasing transparency in the market and the understanding of its ratings.
RMA announces KRI monitoring service
Daily news headlines
Structured Credit Suisse Move
Credit Suisse has announced three hires in its fixed income and coverage teams for the investment banking business in Australia.
Financial Technologies Basel II seminar to assess UAE impact
Financial Technologies Middle East, a technology company, is running an event on the effect of Basel II in the UAE.
In the shadows
Booming over-the-counter derivatives markets may be generating huge revenues for dealers, but they are also casting a worrying shadow over trading book profits in the form of counterparty credit risk. Are contingent credit default swaps the answer?
New world order
Eurex announced in April it will acquire the International Securities Exchange for approximately $2.8 billion. This follows the finalisation of the merger between NYSE Group and Euronext in April. How are regulators responding to the cross-border…
FDIC chief gives September deadline for US Basel rules
Sheila Bair, head of the Federal Deposit Insurance Corporation (FDIC), told a trade magazine she hopes the US will finalise its Basel II regulations by September.
Iberdrola and Endesa hold first power auction
Utilities Iberdrola and Endesa have held Spain’s first power auction, awarding a total volume of 1.45 terawatt hours (TWh). This auction represents the fruits of efforts by the two Spanish utilities to develop a competitive Spanish power market and…
AXA launches active currency fund
After a year of preparation, AXA Investment Managers has entered the currency market with its first actively managed currency fund.
Stanchart Offers Twin Win Structured Product To Gulf Region
The Qatar-based branch of Standard Chartered Bank has launched a new product dubbed Twin Win, a new structured products for the Gulf Region.
Research points to Basel technology split
Chartis, a research company specialising in risk technology, has found that the top banks in North America and Europe are “leveraging their investment in risk technology to produce integrated risk and finance capabilities”.
FOA launches UK power market initiative
The Futures and Options Association (FOA) has launched an initiative that aims to introduce a new design for wholesale UK power markets.
Amaranth trades “altered natural gas prices.”
Energy hedge fund Amaranth Advisors exploited legal loopholes and altered natural gas prices through “excessive speculation” before its 2006 implosion, a US senate investigation has found.
SAR filing decreased last year, says FinCEN report
Huge reporting jump in last decade
US Treasury slams terrorism insurance rules
Extension of TRIA dissuading private sector innovation, says Nason