News
Calmer markets reflected in VAR figures
Lower volatility across asset classes in the second quarter of the year produced lower value-at-risk figures at almost all major banks, according to a Risk survey.
Stress on US banks rises in Q2
US banks face rising losses and continuing economic stress, with little reason for optimism in their second-quarter results, analysts say.
Pinchin retires from Tradition
David Pinchin has announced his retirement at the end of August as chief operating officer (COO) of Compagnie Financière Tradition, the world's third largest interdealer broker.
Opposition to US climate change legislation gathers pace
The American Petroleum Institute (API) has stepped up efforts to dissuade US Senators from passing cap-and-trade legislation in September.
Tradition COO to retire
David Pinchin will retire from his position as chief operating officer (COO) for the Swiss brokerage Compagnie Financiere Tradition (CFT) from August 31.
RBS hires head of equity derivatives strategy
RBS Global Banking and Markets has appointed Stephen Einchcomb as head of equity derivatives strategy for Europe and the US.
Thomson restructuring causes headache for CDS index tranches
Market participants are uncertain how to deal with index tranche products referencing the iTraxx credit default swap (CDS) indexes following the restructuring credit event at French media company Thomson, which was a member of the indexes.
Investors should force Hong Kong regulatory reform, says legislator
Ronny Tong, a former barrister and member of the Legislative Council of Hong Kong (LegCo), believes Hong Kong should replace its various financial regulators with a unified regulatory body. But he told a Hong Kong Investment Funds Association luncheon on…
ETF Securities launches Japanese platform for commodities funds
ETF Securities has launched a new platform in Japan for physically-backed precious metal commodities exchange-traded funds (ETFs). Five funds began trading on the Tokyo Stock Exchange today.
US Wrap: RBC steps into reverse convertibles with commodity equities
Royal Bank of Canada (RBC) has launched a clutch of new reverse convertible notes into the US market with a focus on commodity equities. Reference stocks for the latest structures include Arch Coal, Chesapeake Energy and Frontier Oil on the energy front.
HSBC launches ETF strategy for Europe
HSBC will launch its first exchange traded fund (ETF) product in Europe tomorrow (August 25). Listed on the London Stock Exchange and tracking the FTSE 100 index, the Ireland-domiciled ETF will be sold first in the UK, and later in continental Europe…
$1bn warrant auction design still undecided, US Treasury admits
Despite news of an impending auction of more than $1 billion of warrants on JP Morgan by the US Treasury, it remains unclear how any such auction would work.
UNG fund secures $500million gas swap
Exchange traded fund (ETF) the United States Natural Gas Fund (UNG) entered into a natural gas total return swap for $500 million at the end of the last week, following a $250 million bilateral gas swap secured in July.
Asic takes over regulation of exchange trading
The Australian government has ended self-regulation of the Australian Securities Exchange (ASX), making the Australian Securities and Investments Commission (Asic) responsible for supervising trading on Australian stock markets from the third quarter of…
UK tax authority arrests carbon fraud suspects
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Ex-fund manager ignored compliance rules
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US Wrap: Caution on S&P 500 performance
UBS has launched a new non-directional offering on the S&P 500 which pays income regardless of whether the index moves up or down. The 18 month product pays 100% positive participation provided that the index does not go below 70% of its initial starting…
UK wrap: Meteor bursts forth with an at risk kickout plan
Meteor blazed a lone trail in a week that was dominated by the re-launch of three Royal Bank of Scotland (RBS) notes.
CDS: Spreads narrow on better-than-expected US housing data
Credit default swap 5-year mid-levels for structured products issuers (August 21)
John Hall Associates and EnergyQuote merge
UK-based energy consultancies and procurement specialists John Hall Associates and EnergyQuote have merged.
CFTC and SEC plan meetings to co-ordinate activities
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) will hold joint meetings in September to address regulatory overlaps, and streamline regulation of financial instruments.
UK banks braced for punitive liquidity rules
The UK Financial Services Authority (FSA) is pressing ahead with plans to implement strict liquidity rules from the end of this year, but banks remain highly critical of certain aspects of the new regime.
New co-heads of global foreign exchange options at BoA
Christopher Bae and Thomas Gillie will join Bank of America as managing directors and co-heads of global foreign exchange options in October.
New head of local markets trading at RBS
Jason Richardson has been promoted to head of local markets trading across all asset classes at Royal Bank of Scotland (RBS).