News
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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MyTravel’s debt swap
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Calyon names Hall as head of high yield
people news
Steel industry Riding the rally
credit of the month
Tamesis launches tool
credit tech
Merrill Lynch completes Entergy-Koch takeover
Merrill Lynch today completed its acquisition of Entergy-Koch Trading (EKT), a venture created by New Orleans-based energy company Entergy Corporation and Kansas-based Koch Industries.