News
Threat of downgrade hangs over North American power firms
Low natural gas prices, weak power demand and rising costs put pressure on credit ratings
Asia can ease collateral squeeze, says Clearstream chief
The global thirst for high grade collateral resulting from OTC clearing will require Asia playing a greater role in future, according to Jeffrey Tessler, chief executive of Clearstream
Impact on EUAs from back-loading will be muted, say analysts
European Commission proposes back-loading a larger volume of European Union Allowances than expected, yet analysts downplay price impact
Foreign commodity exporters to China seek RMB settlement after US fiscal cliff fears
Foreign commodity firms operating in China are settling via RMB in order to circumvent a potential weakening of the dollar
Risk USA: Buy-side firms rail against European short-selling bans
Rule changes have forced firms – including DE Shaw – to stop trading some equities and credit default swaps
Risk USA: Regulators called on to restrict loan modelling choices
Less modelling freedom makes sense, says loan data expert – and the alternatives would be far worse
Risk USA: "We needed to run a simpler bank," says UBS risk manager
Capital pressures that drove UBS out of fixed income could force other banks to follow suit, says market risk head – and names Société Générale and BNP Paribas as examples
Risk USA: Margin for OTC products is too high, says Pimco's De Leon
New rules would see OTC markets over-margined, while futures may be under-margined - and there could be systemic implications
Structured Products Europe: Prips scope could be extended, says EC official
European legislators are discussing the EC’s proposals on packaged retail investment products – and some believe the scope of the regulation should be extended
Jurors told to focus on the facts and not jargon in Adoboli trial
Judge continues summing up in UBS rogue-trading trial
Structured Products Europe: Investors unaware of regulatory improvements, say speakers
The supervision of structured products has improved in recent years, but investors aren’t aware of many of the changes, say conference speakers
Adoboli jury told to ignore prejudices against banks
Trial against ex-UBS trader draws to a close as judge begins summing up
People moves in energy markets
Trading positions
Commodity position limits cause Mifid II confusion
Commodity position limits cause Mifid II confusion
Mutuals warn of capital threat from UK 'twin peaks' regulation
Guidance needed on treatment of with-profits fund surpluses under new supervisory regime
CDS market faces iTraxx clearing obstacle
Restructuring credit events would cause non-clearable contracts to spin out of cleared index trades
Adoboli did not try to hide rogue trades, defence tells court in closing
Defence delivers closing statement in Adoboli trial
CFTC: fraud at Goldman Sachs caused $118 million loss
Accusations of fraud against a trader have parallels with Adoboli and Kerviel
New listings on Scoach reach highest level this year
New listings of structured products on Scoach in Switzerland are at their highest since January
Lawsuit threats cloud California cap-and-trade scheme
California is set to launch the world’s second-largest carbon market, but threats of litigation have kept many potential market participants sitting on the sidelines
Prosecution delivers closing speech in Adoboli trial
Case against 'rogue trader' draws to a close as the prosecution delivers its closing speech
European Commodity Clearing adds two board members
Management board of European Commodity Clearing brought into line with parent company
New rules designed to kill OTC market, says European regulator
Central Bank of Ireland adviser says reforms will cause an "Ice Age" in the derivatives market
Insurers hope for agreement tomorrow on long-term guarantees assessment
Insurers concerned that assessment could overlap full-year reporting as debate over matching adjustment continues to delay impact test