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Foreign exchange

FSA bans second Morgan Stanley trader

The UK Financial Services Authority (FSA) has banned David Redmond after he put on a large unauthorised oil futures trade while on Morgan Stanley's freight desk in London in February last year.

RBS and Sip Nordic storm UK IFA market

Royal Bank of Scotland has partnered with Sip Nordic to launch a new series of dynamically managed structured products into the UK independent financial adviser (IFA) market. The investments will be sold by a 25-strong sales force working across the…

Q&A: EC official "optimistic" on central clearing deadline

Mario Nava, head of the financial markets infrastructure unit at the European Commission in Brussels, updates Risk on progress towards central clearing of credit default swaps (CDSs) and the move towards a central trade repository for over-the-counter…

Volatility returns to pre-Lehman levels

Market volatility across several sectors has dropped back to levels last seen before the collapse of Lehman Brothers in September 2008, lending weight to the belief that the financial markets are on the road to recovery.

Fed steps in to support CMBS market

The US Federal Reserve will start accepting legacy commercial mortgage-backed securities (CMBS) as collateral under its Term Asset-backed Securities Lending Facility (Talf), as the US commercial real estate market continues to struggle.

OTC trade repository plan faces hurdles

Financial authorities in the US and Europe have advocated the introduction of a central trade repository to gather data on the over-the-counter (OTC) derivatives market, but there is concern that multiple repositories could do more harm than good.

BIS shows first OTC derivatives market decline

The total outstanding notional of over-the-counter (OTC) derivatives contracts fell 13.4% to $592 trillion at the end of December 2008, from $683.7 trillion at the end of June 2008, according to statistics released by the Bank for International…

Estimating intrinsic currency values

Forex market practitioners constantly talk about the strengthening or weakening of individual currencies. In this article, Jian Chen and Paul Doust present a new methodology to quantify these statements in a manner that is consistent with forex market…

US Wrap: Is Barclays note flood sign of rebound?

Barclays Bank has launched 31 new reverse convertible notes into the US market, one of the most compelling signs yet of an upturn in issuance. By far the most prevalent theme was energy, which represented the underlying for 10 of the new notes. Financial…

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