News
Race against the clock for European CDS CCPs
With just two weeks remaining until the European Commission’s deadline for central counterparties (CCPs) to begin clearing credit default swaps (CDSs), two of the competing platforms are still waiting for regulatory approval.
Bank CDS spreads tighten on positive second-quarter results
The cost of credit protection fell on US and European financials this week after a wave of positive second-quarter results.
UK Treasury releases Walker Review
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Investor panel urges reform of US financial markets
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US Treasury issues fact sheet on hedge fund regulatory reform
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Société Générale launches new listed income product
Société Générale has issued a new listed plan, which guarantees to pay an income higher than a traditional savings account. The FTSE Income Protection 3000, which is listed on the London Stock Exchange, provides investors with a fixed income of £17, or 1…
Quant Congress: Default rate data "underestimates structured credit risks"
Rating agencies' method for dating default event statistics has led to the systematic mispricing of risk in structured credit models, according to Robert Jarrow, professor of finance and economics at Cornell University.
EC continues tough stance on securitisation
In its latest round of proposals for modifications to the Capital Requirements Directive (CRD), the European Commission has confirmed its intention to assign higher capital requirements to re-securitisations and to enhance disclosure requirements for…
Carbon market VAT scrutiny shifts to Climex
The Dutch government has announced changes to the way carbon permits will be taxed, following concerns about a 49% leap in volumes on Dutch carbon exchange Climex in June. The growth came despite an overall drop in trading volumes across all European…
UBS hires new head of rates trading
UBS has appointed Chris Murphy as its new global head of interest rate derivatives trading.
Gap trade interest could salvage dealer risk recycling channel
Renewed interest in gap risk trades might resurrect the defunct trading channel previously used by structured products issuers as a means to recycle unwanted gap risk, say dealers.