News
Basel II could be detrimental to the industry, says Labarge
The implementation of the new Basel Accord (Basel II) will be more difficult than earlier envisioned, and could be disruptive to the banking industry, according to Suzanne Labarge, former Royal Bank of Canada chief risk officer (CRO).
IPE members approved to trade on Ice OTC markets
The International Petroleum Exchange’s (IPE) registered brokers and local traders can now trade on IntercontinentalExchange’s (Ice) over-the-counter markets for their own accounts.
Russell opens up to options exchanges
Russell Investment Group, a Washington-based provider of investment services and products, is to allow options exchanges to create products based on its family of index products.
BIS names new secretary general
The Bank for International Settlements (BIS) today named Peter Dittus as its new secretary general for a five-year term. He replaces Gunter Baer, who has held the position since 1994.
US agencies issue QIS4 and LDCE survey materials
American financial regulators (the Agencies) have issued survey materials for the fourth Quantitative Impact Study (QIS4) and the Loss Data Collection Exercise (LDCE) in preparation for the implementation of the Basel II capital framework in the country.
US agencies issue QIS4 and LDCE survey materials
US financial regulators have issued survey materials for the fourth Quantitative Impact Study (QIS4) and the Loss Data Collection Exercise (LDCE) in preparation for the implementation of the Basel II capital framework in the US.
BP pays $100,000 to settle wash trading charges
The energy round-trip trading scandal continued to rumble as BP America today paid $100,000 to the US Commodity Futures Trading Commission (CFTC) to settle charges of illegal wash trading. A wash, or round-trip, trade is one that produces neither a gain…
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BP pays $100,000 to settle wash trading charges
The energy round-trip trading scandal continues to rumble on, as BP America today paid $100,000 to the US Commodity Futures Trading Commission (CFTC) to settle charges of illegal wash trading. A wash or round-trip trade is one that produces neither a…
Fitch upgrades capacity for CDO default risk tool
Fitch Ratings has upgraded its Default Vector model, which evaluates default risk in collateralised debt obligation (CDO) portfolios.
Icap launches electronic CDS broking
Icap has launched an electronic credit derivatives trading service via its BrokerTec platform, which typically handles Treasury bond and repo transactions.
Dynegy to buy Sithe Energies from Exelon
Dynegy is set to reduce the effect of some of its loss-making tolling and financial swap contracts, buy power plants in the northeast US and acquire a supply agreement to increase stable cashflow and service debt.
California ISO gets tough on generators with new software
Power suppliers in California will face financial penalties if they deviate from pre-specified generation levels as of December 1. This is one of the main changes brought in by a new software system implemented by the California independent system…
Gazprom completes Rosneft merger, appoints head of new company
Sergei Bogdanchikov will retain his job as chief executive of Gazpromneft, the new company formed yesterday by the merger of Russian gas monopoly Gazprom and state oil company Rosneft. He was previously head of Rosneft.
Iris names new chairman
Iris Financial, the trading and risk management software developer, has appointed David Ure as chairman of its board of directors.
Energy swaps
Oil
S&P downgrades GM
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