Foreign exchange
JP Morgan launches commodity fund
JP Morgan today launched its Commodity Curve Index Energy Light Fund.The open-ended fund has been designed to replicate the performance of the JP Morgan Commodity Curve Index Energy Light Total Return, the most recent index to be added to the JP Morgan…
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Jefferson County head indicted on bribery, money laundering charges
The Mayor of Birmingham, Alabama, has been charged with 101 counts including bribery, money laundering, mail and wire fraud pertaining to the award of lucrative bond transaction and swap agreement servicing contracts in exchange for financial kick-backs,…
AIG sells Swiss private bank
AIG, the beleaguered US insurance giant, today announced the sale of its Swiss subsidiary AIG Private Bank to Aabar Investments, the United Arab Emirates investment company, for a provisional Sfr307 million ($254 million).
Fines against MLROs expected to increase in 2009
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Asian hedge fund business may halve
The hedge fund business in Asia is set to shrink by 33-50% in managed assets during the coming year, as fund managers face redemptions and struggle to put on successful trading strategies that do not require significant amounts of leverage.
Bank of Montreal profits from structured product trading
Good performance in the structured products trading business has helped Bank of Montreal's (BMO) Capital Markets Group to record growth for the third consecutive quarter, its latest financial reports have revealed.
UK power project chooses Nasdaq OMX and Nord Pool
The long-running Futures and Options Association (FOA) UK power market design project, aimed at boosting liquidity in the UK's forward power market, has chosen Nasdaq OMX Commodities and Nord Pool Spot to deliver a platform for trading and clearing…
Popular volatility indexes plunge
Record high levels of volatility in the equity market since September have caused huge losses on popular indexes that allowed investors to take short implied volatility positions.