Structured products
ICE launches 20 OTC cleared oil contracts
IntercontinentalExchange (ICE) has introduced 20 new cleared OTC oil contracts, which will be available for clearing from May 18, 2009.
UK commodity fund opens Denver office
UK headquartered Ebullio Capital Management has opened an office in Denver, Colorado, to service demand from US investors for its commodity hedge fund.
Brokerage launches online catastrophe price index
Willis Re, the reinsurance arm of global broker Willis Group Holdings, and Thomson Reuters have today launched the Willis Re Catastrophe Price Index.
City of London defends OTC derivatives markets
Political pressure for reform risks crushing the over-the-counter derivatives market, warns a report published today by the City of London.
Auctions held on credit derivatives referencing three US companies
Three credit event auctions run by data vendor Markit and broker Creditex have determined final settlement values for credit derivatives trades referencing Missouri-based cable operator Charter Communications, Pennsylvania-based financial services firm…
Fed divulges process behind bank stress tests
The US Federal Reserve has released details of the methodology behind its Supervisory Capital Assessment Programme (SCAP), the recently concluded stress tests conducted by regulators to ascertain whether additional capital replenishment is needed at the…
EU parliament and Council approve rating agency regulation
Daily news headlines
US Wrap: Index scope broadens beyond S&P 500
Two indexes besides the usually dominant S&P 500 were seen in the US market yesterday: the S&P Midcap 400 and the Dow Jones Industrial Average. The Midcap is making its first appearance of the year, while the Dow Jones has not been used since January as…
No new coal without CCS, says Miliband
Energy secretary Ed Miliband announced yesterday that there will be no new coal plants built in the UK without carbon capture and storage (CCS) technology, in a move designed to place Britain at the forefront of technological developments.
Government ownership of banks possible, asserts Tarp board
According to a report released today by the Financial Stability Oversight Board, the government has the potential to take a major ownership stake in banks via the Capital Assistance Program (Cap), which was designed to provide capital to ailing banks…
IMF: leverage best for determining bank bailouts
Leverage ratios, return on assets and stock data are among the most reliable indicators for predicting whether banks would require government intervention in the credit crisis, according to a study published by the International Monetary Fund (IMF) this…
European CDS dealers to follow US to fixed coupons
An agreement between the major dealers to move to standardised fixed coupons for trading European credit default swaps (CDSs), following a similar move in North America, could speed global moves towards central clearing, say market participants.
Meteor presents Société Générale with a kick-out
Meteor Asset Management has launched a new kick out plan with index triggers which fall as the product progresses. The Prima Plus 6 Kick Out Growth Plan, issued by Société Générale, lasts 10 years and is linked to the performance of the FTSE 100 and DJ…
US Wrap: Goldman offers Exportfinans and Emerging Markets
Goldman Sachs has launched a new accelerated growth product linked to the MSCI iShares Emerging Markets Index fund, using the external credit of Eksportfinans. The one-and-a-half year trade offers 250% participation in the performance of the fund, up to…
CDS: Bank spreads narrow
Credit default swap 5-year mid-levels for structured products issuers (Wednesday April 22)
UK guarantees AAA RMBS in bid to jump-start lending
The UK government has launched a scheme to guarantee up to £50 billion in residential mortgage-backed securities (RMBS) for the first time, finance minister Alistair Darling said yesterday.
Isda AGM: US regulator identifies six weaknesses in OTC market
Theo Lubke, senior vice-president at the Federal Reserve Bank of New York, identified six main problem areas in the over-the-counter derivatives market during a panel discussion on public policy at the International Swaps and Derivatives Association's…
Trading and technical gains outweigh loan losses in Q1
Strong trading results have offset large loan losses as banks report a mixed bag of first-quarter results.
S&P offers interest rate arbitrage indexes
Index provider Standard & Poor's has launched the S&P Forward Interest Rate Arbitrage Index series, which is designed to provide exposure to interest-rate based investment strategies. The index series, which will comprise indexes for seven countries…
CDS: Spreads widen further on financials
Credit default swap 5-year mid-levels for structured products issuers (Tuesday April 21)
US Wrap: JP Morgan offers investors the lesser option
JP Morgan has launched a three-year kick out note which pays investors the lesser performance of the S&P 500 or Russell 2000 index if it does not autocall. The Lesser Performing Index Single Review note includes just one observation date 12 months into…
iShares continues fixed income ETF run
iShares has launched four new fixed income ETFs, adding to the four launched by the fund provider last month as it continues to build its business in the asset class. The new funds, which are listed on the London Stock Exchange (LSE), offer exposure to…
Goldman advocates carry trade; analysts disagree
Background conditions might be improving for the carry trade, but investors are still too wary to return.
PPIP participants possibly exempt from compensation limits
Asset managers that participate in the Public Private Investment Program (PPIP) with the US Treasury will probably be exempt from executive compensation limits imposed on private entities that have accepted government bail-out funds, Treasury secretary…