Structured products
Interbank lending remains stable
Interbank confidence stood firm today after a tumultuous day on the world equity markets.
HKMA's Genberg dismisses 'decoupling' theory
The idea that increasing inter-regional trade in Asia could offset the impact of the recessions in the US and Europe - the so-called 'decoupling' theory - is ill-founded, said Hans Genberg, executive director of Hong Kong Monetary Authority (HKMA)…
Demand wanes for central bank liquidity schemes
The appetite among European and US banks to access liquidity schemes provided by central banks has reduced dramatically, according to the latest figures.
Contenders queue up for Tarp funds
An increasing number of organisations are applying for the $250 billion Capital Purchase Program (CPP), part of the US government's $700 billion Troubled Asset Relief Program (Tarp).
Second credit-event auction to be held on LCDS
London-based data provider Markit has announced it will hold a credit-event auction on Ontario-based door manufacturer Masonite International, to settle loan credit default swap (LCDS) trades referencing the company.
Ambac to commute $3.5 billion in CDO exposure
Ambac Financial announced on Wednesday that it has arranged a deal with counterparties to close out exposure to four collateralised debt obligations (CDOs) with a cash settlement of $1 billion.
BNP launches carry trade alternative
BNP Paribas has launched two new FX indexes, Galaxy Alpha and Alpha plus, which aim to offer an alternative to traditional carry trade strategies, which have underperformed over the past year given extreme volatility in FX and interest rate markets.
Executive pay reviewed at Barclays, UBS and Goldman
Barclays, UBS and Goldman Sachs have announced moves to halt bonus payouts for top executives in 2008, as huge subprime losses and writedowns have placed compensation policies under increased scrutiny.
MAS review of structured products may lead to regulatory changes
The Monetary Authority of Singapore (MAS) may make changes to regulation governing the structured products industry it emerged yesterday during the country's parliamentary sitting. The MAS is undertaking a review of the regulatory regime for the…
Courts call for Lehman derivative contract settlement in US
Investors still holding Lehman Brothers derivative contracts have been called to terminate their positions by US bankruptcy courts. The bank was estimated to have entered into 930,000 contracts including swaps, options and forwards, of which 733,000 have…
Nasdaq OMX offers Nordic sustainability
Index provider Nasdaq OMX has launched the OMX GES Sustainability Index, a benchmark index which comprises the 50 leading Nordic-listed sustainability companies. The index criteria are based on international guidelines for environmental, social and…
CAAM opens subsidiary in Malaysia
Crédit Agricole Asset Management (CAAM) has opened a subsidiary in Malaysia, which was established as a foreign fund management company. CAAM Malaysia holds a Capital Markets and Services License allowing it to carry out fund management in the country.
FX volumes 'set to drop in 2009'
Volumes traded in the foreign exchange markets are likely to drop next year as hedge funds and sovereign wealth funds reduce their activities, Paul Fisher, the Bank of England's head of foreign exchange and reserves management, predicted today.
HSBC terminates swaps in Lehman Bros minibonds
The Monetary Authority of Singapore (MAS) says HSBC Institutional Trust Services, the trustee of Lehman Brothers' defaulted minibond notes programme, has terminated the swaps that back series 1 to 8 of the programme, to remove the risk of credit events…
FTSE expands environmental index series
Index provider FTSE has expanded its Environmental Opportunities Index Series by launching nine new indexes. The series, which was launched in July 2008, is derived from the FTSE Global Equity Index Series and comprises companies with at least 20% of…
Db x-trackers delivers commodity ETF
Db x-trackers, the exchange-traded fund arm of Deutsche Bank, has launched its commodity ETF on the London Stock Exchange (LSE) tracking the Deutsche Bank Liquid Commodity Index - Optimum Yield (DBLCI OY Balanced). The db x-trackers DBLCI OY Balanced ETF…
CDS clearing house to miss November 30 deadline
The November 30 target for central clearing of index credit default swap (CDS) trades set by a consortium of industry associations and investment banks is unlikely to be met, sources within the Federal Reserve Bank of New York have said.
Hedge funds agree to more regulation of their industry
Daily news headlines
Paulson: buying MBSs no longer Tarp priority
Daily news headlines
Brazilian equity reverse convertible coupons soar
Annualised coupons offered on three-month reverse convertibles linked to Brazilian blue-chip stocks have soared over the past few months because of the extreme equity volatility environment. A reverse convertible priced in January last year on Vale do…