News
Final Esma clearing rules too rigid, CCPs say
Regulator has not given clearing houses enough freedom to calculate margin requirements, critics say - and Europe's CCPs may have to charge more for futures than their US rivals
Adoboli colleague denies knowledge of ‘umbrella’ fund
Simon Taylor, a junior ETF trader alongside Adoboli, claims he never knew of hidden profits
FTSE and NSE announce first independent Kenyan sovereign debt index
FTSE Group and the Nairobi Securities Exchange have launched the first independently calculated Kenyan sovereign debt index, underscoring increasing investor interest in Africa
US Orsa steams ahead
US Orsa steams ahead
Energy Risk Europe 2012: EU power market integration faces next set of hurdles
The next stages of creating an integrated European electricity market should focus on the intra-day market, direct current cables and preparing trading strategies post-2014, say panellists at Energy Risk Europe
Energy Risk Europe: EC official questions energy industry estimates of clearing costs
Industry estimates of clearing costs met with scepticism
Energy Risk Europe 2012: Speculation tending to push oil prices lower
In recent years, speculation in oil markets has been associated with price falls more than price rises, but speculative activity is transforming the oil market into an asset play subject to new macroeconomic influences, says Leo Drollas, chief economist…
Philippines needs electricity futures market, says energy merchant
US-based trading firm bullish on the potential for energy trading in the Philippines
FSA charges four in major insider dealing case
Suspects linked to 2010 arrests
Court ruling may be death of CFTC’s position limits
Experts say appeal is unlikely – and CFTC must prove commodity market speculation before re-proposing limits
Adoboli’s fellow trader conducted fictitious bookings, court hears
A fellow trader on accused UBS rogue trader Kweku Adoboli’s ETF desk also faked bookings to hide risky trades, he admitted today
RBS investor products group faces cuts in merger with non-linear trading
Martin van Pieterson named global head of non-linear trading and investor products as Royal Bank of Scotland merges teams
Counterparties abandon US public utilities over Dodd-Frank fears
Publicly owned utilities say a growing number of energy companies are refusing to trade with them ahead of the deadline for swap dealer registration
Experts question shift in Mexico oil hedging strategy
Use of put spreads in oil hedging programme leaves Mexico dangerously exposed to low oil prices if global economy sinks
Adoboli’s ETF desk was an ‘oasis of profit’
ETF desk where Adoboli worked was an "oasis of profit" where risk limits were exceeded
Libor governance to be put out to tender
The FSA confirmed today that the BBA will be stripped of its Libor powers
Ice move from swaps to futures unlikely to be last, says O’Malia
The decision by Ice to speed up the transition of its cleared OTC energy contracts to futures reflects regulatory uncertainty, and is likely to be replicated by other exchanges, says CFTC commissioner
RDR guidance causing confusion, experts say
FSA guidance notes on the RDR need clarifying, industry experts warn
Esma backtracks on indirect clearing
Final rules remove two controversial proposals, but revive regulators' concerns about access to clearing for small firms
Entire UBS ETF desk knew about Adoboli’s hidden profits, court hears
Accused rogue trader’s hidden profits were no secret, colleague says
Super fund pension schemes powering structured products market in Australia
Bigger employer contributions to superannuation guarantee pension schemes in Australia is encouraging more individuals to invest in self-managed super funds, spelling good news for structured products providers
ALM Europe: Basel right to rein in capital models, says EIB exec
Regulators should be more intuitive in their approach to capital levels, EIB treasury risk head tells conference
Asian energy markets liquid enough to sidestep Dodd-Frank compliant firms
The extraterritorial impact of the US Dodd-Frank could be sidestepped by Asian players opting to conduct swap trades with players outside of the regulation’s orbit
Indirect clearing to be overhauled in final Esma rules
Indirect clearing will not be compulsory, sources say – and a controversial 30-day guarantee for indirect clients will also be removed