Infrastructure
Dealer predicts 85% of CDSs could be centrally cleared by end of 2009
The head of credit derivatives at a major dealer has told Risk he expects to see 35-40% of the credit default swap (CDS) market centrally cleared by the end of June, and as much as 85% by year's end barring any unforeseen mishaps.
Time ripe for inflation investments and hedges, says Sinopia chief
The launch of a variety of fiscal stimulus packages by Asian and western governments combined with quantitative easing by some central banks has renewed concerns about the risk of significant increases in future inflation rates around the world.
US "should set national house value floor" to arrest declining prices
The Obama administration's attempt to revive the housing market by modifying mortgage payments should be scrapped and replaced by a national US house price floor set by the government, a prominent hedge fund manager has claimed.
Senior Supervisors Group: CDS auction process working
A report released on March 9 by the Senior Supervisors Group (SSG) suggests the auction process for settling credit default swaps (CDSs) - tested several times over the past six months - is working.
Bernanke calls for regulatory overhaul of financial system
An overhaul of how the government regulates the financial system is required to prevent future economic crises, said US Federal Reserve chairman Ben Bernanke in a speech delivered before the Council of Foreign Relations in Washington today.
Ice launches US CDS clearing service
Atlanta-based derivatives exchange IntercontinentalExchange (Ice) launched its credit default swap (CDS) central clearing platform on March 9 after receiving the green light from the Securities and Exchange Commission (SEC) on March 6.
Low recovery rates set for Aleris International LCDS
Final settlement values for credit derivatives trades referencing Ohio-based aluminum products manufacturer Aleris International were determined during an auction held today by data vendor Markit and broker Creditex.
US Wrap: UBS puts in an appearance with S&P 500 based straddle product
UBS graced the US market with a rare appearance as an issuer yesterday, offering up 100% principal protection absolute return barrier notes linked to the S&P 500 Index. UBS Financial Services is agent for the straddle product based on an underlying that…
Iosco aims to boost oversight on commodity futures
Today, the International Organisation of Securities Commissions (Iosco) published guidelines for improving the transparency and supervision of commodity futures markets.
Basel Committee to look at Tier 1 capital quality
Daily news headlines
Isda to publish auction settlement supplement
Daily news headlines
Basel Committee to look at Tier 1 capital quality
The Basel Committee on Banking Supervision is preparing radical changes to its rules on capital quality, including a 'soft target' of 75% for equity capital - up from 50% today - and the possible abolition of two-tier capital, according to a senior…
Fed approval leaves Ice/TCC on brink of CDS clearing
Intercontinental Exchange's (Ice) application to become a member of the Federal Reserve System has been approved by the US central bank, overcoming one of the final obstacles preventing the firm from launching its central clearing platform for credit…
Isda to publish auction settlement supplement, launches close-out protocol
The International Swaps and Derivatives Association will publish its auction settlement supplement and open the Protocol on March 12.
US to restructure AIG bailout after $61.7 billion Q4 loss
Marking the largest corporate quarterly loss in US history, today AIG reported that it lost $61.7 billion in the fourth quarter of 2008. It blamed disruption in the credit markets, particularly within its commercial mortgage-backed securities (CMBS)…
Lehman likely to recoup value of derivatives trades
Counterparties to derivatives trades with Lehman Brothers that are currently in-the-money for the bankrupt estate will not be able to hold off payment indefinitely, predict lawyers.
Just another tool in the box
Credit ratings
ASF 2009 highlights challenges for securitisation market
The annual conference for securitisation professionals, held in Las Vegas, showed that the industry is under no illusions about the difficulties it is currently going through, but that there is a collective will to turn the situation round. Mark Kahn of…
Crunch time for autos
The world's carmakers are battling for survival. Should bondholders shun the sector or is there value in the firms best placed to beat the recession? Nikki Marmery reports
ASF 2009 highlights challenges for securitisation market
The annual conference for securitisation professionals, held in Las Vegas, showed that the industry is under no illusions about the difficulties it is currently going through, but that there is a collective will to turn the situation round. Mark Kahn of…
Swap shop
The International Swaps and Derivatives Association, under its chief executive Bob Pickel (right), is the trade body for dealers of, amongst other things, credit derivatives. As such, Pickel and his members are at the centre of a storm raging around the…
Dealers and regulators: Who will blink first?
High noon for CDS Clearing