Foreign exchange
GFI and Colliers launch Hong Kong property derivatives
US interdealer broker GFI Group has partnered with property consultancy Colliers International to provide broking services in Hong Kong property derivatives to banks, funds and property companies.
NY bank regulator is appointed head of supervision by Qatar financial centre
Head of bank supervision at the NY state banking department to lead regulatory dialogue with authorised institutions in the country’s new financial centre.
Hedge funds are a danger to pensions, US senator says
Chuck Grassley, chairman of the US Senate's finance committee, has warned that "secretive" hedge funds are endangering US pension schemes.
New guidelines on common reporting released
CEBS has published a recast version of guidelines for prudential reporting for credit institutions and investment firms.
FSA warns of complacency in stress testing
Financial institutions should use more extreme scenarios in stress testing, the UK Financial Services Authority (FSA) has warned.
Buyout creates largest US independent power transmission co
Michigan Electric Transmission Company has been acquired by ITC Holdings in an $865 million deal which creates the largest independent electricity transmission company in the United States , based on transmission load served.
EU proposals to heighten competition and risk in the energy sector
The European Commission’s energy policy review, an ongoing evaluation of the energy sector which is likely to lead to new regulation regarding competition, could have significant implications for the risk profile of the European utility sector, says a…
FSA will be ready to implement the bulk of the final CRD rules in two weeks
The FSA chief executive confirms that UK is set for Basel II implementation.
HSBC and Babson close $502 million CDO
HSBC and Babson Capital, the Massachusetts-based asset managers, have closed a $502 million managed synthetic CDO.
Australia suggests new guidance for AMA for operational risk
Apra has published its response to industry submissions to its approach to AMA for operational risk.
Institutional demand for hedge funds to reach $1 trillion by 2010
Worldwide institutional demand for hedge funds will reach $1 trillion by 2010, according to a survey of institutional investors conducted by Bank of New York and Casey, Quirk and Associates, a Connecticut-based investment consultancy.
Barclays Investment Notes commence trading on LSE
Barclays Investment Notes started trading on the London Stock Exchange (LSE) today. The structured products were launched to investors last month at the start of a three week book building period.
Lehman Brothers' AIM president jumps ship for Credit Suisse
John Kremer, formerly president of Lehman Brothers Alternative Investment Management, has joined Credit Suisse as head of European institutional distribution for asset management activities. In this new role, Kremer will be responsible for relationship…
Merrill Lynch launches its first retail structured note in Singapore
Merrill Lynch has launched its first equity-linked structured note for the retail market in Singapore. The Citrine Giant Booster Notes, provide investors with a fixed coupon linked to the performance of a basket of eight global blue chips.
Barclays bullish on oil
Crude oil's recent slide is set to reverse with prices returning to over $70 by the end of the year, Barclays Capital says in its latest commodity research.
SG, Rhodia launch emissions company
Société Générale and Rhodia Energy Services, a global specialty chemicals company, have formed a joint venture company to trade carbon.
Concern continues over Basel II in US
US Congressmen have questioned the effectiveness of Basel II risk modelling, and complained that it puts US banks at a disadvantage.
UK businesses unprepared for hedging changes
Medium-sized UK companies are unprepared for forthcoming rule changes on accounting standards that require more rigorous reporting of foreign exchange exposure, according to FX specialist HiFX.