Infrastructure
Liffe prepares for CDS clearing launch in US
London-based derivatives exchange Liffe, which launched its joint central clearing solution with LCH.Clearnet for credit default swaps (CDSs) in Europe on December 22, will roll out the service to US customers in the next few weeks.
WEF backs calls for reverse stress tests
"Glaring gaps in risk management" represent one of the biggest dangers facing the world in 2009, and financial institutions must improve their modelling and testing as a matter of urgency, according to a World Economic Forum report launched today.
European Commission initiates legal action against Standard & Poor's
Daily news headlines
JP Morgan wins Risk's derivatives house of the year award
JP Morgan has won Risk magazine's derivatives house of the year award for the second successive year. In a 12-month period that saw the collapse of Bear Stearns and Lehman Brothers, unprecedented volatility in the market and capital injections into…
S&P creates ombudsman role
In an effort to "strengthen its ratings process, increase transparency and better serve capital markets", rating agency Standard & Poor's has appointed Ray Groves to the newly created position of ombudsman, effective February 16.
Uruguayan pension fund goes supranational for second time
Uruguayan pension fund, Republica Afap, has invested in a EUR/USD-linked participation note with the intent to hedge its portfolio against the depreciation of the euro against the dollar. The structured product, issued in October 2008, is the second such…
Charges recommended for securities settlement failures
US Treasuries dealers should start imposing penalty charges on counterparties that fail to deliver securities on time, an industry group has recommended.
European talks stall on CDS clearing
The European Commission's initiative to move the majority of over-the-counter credit default swaps (CDS) onto central clearing facilities has stalled after failing to get written commitments from certain parties.
Auction sets 1.5% recovery on Tribune CDS
A final settlement value of 1.5% was set for credit default swaps (CDS) referencing Tribune during an auction today. A price of 23.75% was set for loan credit default swaps (LCDS) referencing the company.
CME awaits SEC approval for CDS clearing
The launch date for the Chicago Mercantile Exchange (CME) Group's credit default swap (CDS) clearing platform remains unclear, almost two weeks after it received the green light from two US financial regulators.
Isda documentation to cover CDS settlement auctions
The International Swaps and Derivatives Association plans to incorporate the credit default swap (CDS) settlement auction process into the 2003 Isda credit derivatives definitions by mid-March.
The matchmakers
Evolution Securities, a London investment bank previously associated with the equities market and its advisory work with small- and mid-cap clients, has branched into fixed income with the recruitment of two credit market stalwarts, Guy Cornelius and…
EC talks on CDS clearing house break down
The European Commission's drive to get derivatives market participants to formally commit to a central counterparty clearing house for over-the-counter CDS has stalled
Is it too late to revive the securitisation market?
First we were told it was undergoing a temporary hiatus, then it was stalled, now they're saying it's broken altogether. William Rhode takes a look at the global securitisation market to see what, if anything, can be done to restore its fortunes
Nick Themelis
The CIO at e-trading platform MarketAxess tells Matthew Attwood how the company's technology helps clients achieve regulatory compliance
Joe Lovrics
Quite what kind of structured credit market will emerge from the ashes of the financial crisis is a matter for intense debate. The head of structured credit sales at BNP Paribas gives his views on the drivers for the market's future
In thrall to the exchequer
Banks have accepted the bailout cash, but will this Faustian pact come back to haunt them?
Fool's gold - How securitisation promised much ... but delivered little
The notion that securitisation as a technique is able to increase liquidity in the financial system by making marketable securities out of hitherto illiquid debt has been exposed as flawed, argues Anastasia Nesvetailova. It's not that financial…