News
US power bodies call for clarity on Dodd-Frank “swap” definition
More guidance is needed from the CFTC on the definition of a swap, according to Ferc and other industry associations concerned about regulatory overlap
EC’s Capital Requirements Directive deemed “detrimental” to energy trading
The revised proposal for the Capital Requirements Directive (CRD) presented by the European Commission (EC) on July 20 has sparked serious concerns among energy companies, traders and exchanges
Greece’s second bail-out met with relief
Traders and strategists believe latest rescue package is a positive development, but expect further pain ahead as it is implemented
Morgan Stanley Tips bet 'made sense', dealers say
Big curve flattening bet attributed to Morgan Stanley was reasonable, traders say - one rival exited similar position just in time
Deborah Fuhr leaves BlackRock for another role within the industry
Research formerly conducted by Deborah Fuhr will now be undertaken by BlackRock's Investment Institute
Fed aims for summer Sifi regulations
Bernanke says Fed expects to issue proposed rules on Sifi oversight this summer; also 'on schedule' to implement Basel III
Offshore CNY deliverable forwards in Hong Kong to outgrow NDFs
Rising offshore renminbi interbank rates in Hong Kong have made its deliverable forwards market the cheapest forum compared with NDFs and onshore forwards for corporates to hedge, bankers say
EC's CRD IV says dealers can ignore portability risks
While Basel Committee deliberates, EC proposes 'value of zero' for contingent risks associated with clearing portability
BBVA is to add volatility sub-index to its Jim Rogers’ resources index to create structured products
BBVA is to add volatility sub-index to its Jim Rogers’ resources index to create structured products
Risk.net poll: Orderly restructuring most likely scenario for Greece
Almost half of poll respondents believe Greece will undergo an orderly restructuring in the short term, perhaps leading to a selective default
Merrill Lynch Wealth calls in Police to head EMEA
Amilcare Police has reappeared at Merrill Lynch Wealth Management, a little more than a year after parting company with HSBC, where he was head of equity derivatives sales and third-party distribution
Deutsche Bank launches db-X ETF platform in the US
Building on its success in the US ETP business, Deutsche Bank has listed its first five ETFs under the db-X brand
Russian oil at top of investment list: Franklin Templeton
Franklin Templeton’s Mark Mobius says Russia is his current emerging market of choice, in particular oil and resources companies, and suggests concerns over corporate governance are misplaced
Iranian public votes on currency reform
Preliminary results show name of currency will change and four zeros will be removed from value
FX Week USA: Niche services rather than volume set to dominate FX
Conference speakers discuss the changing nature of the foreign exchange market, and agree successful providers in future are likely to be those that can offer a range of niche services rather than those with the highest volumes
Icap closing credit hybrids business
Closure of quanto and contingent CDS desk triggers departures
Credit Suisse reshuffles Asia executives to increase focus on private banking
Credit Suisse has named Marcel Kreis as chairman of private banking Asia Pacific and Francesco de Ferrari as head of private banking Asia Pacific from January 1, 2012
Texas could face power shortages due to new EPA rule: ERCOT
Pollution rule could impact long-term ERCOT reliability and create additional costs as power plants devote resources to understanding the new system, ERCOT warns
WTI/Brent spread impacts commodity index returns
A re-balancing of indexes to include, or increase Brent weighting could be on the cards to combat sliding WTI/Brent spread, say index providers
Fannie Mae says FHFA's margin rules would drive up hedging costs
US mortgage giant says segregating variation margin will hurt FHFA- and FCA-regulated entities, and create new funding obligations for swap dealers
Termination of iPath volatility ETN 'likely to be repeated' in latest version
Barclays has issued a second version of its iPath Long Enhanced S&P 500 Vix Mid-Term Futures ETN, which some observers say risks suffering the same fate as its predecessor unless market conditions change
US CLO issuance bouncing back in 2011, say experts
While CLO activity remains below pre-financial crisis levels, a demand for higher yields is driving US investor appetite
BIS must continue to evolve: Caruana
General manager, Jaime Caruana, says BIS must continue to adapt to a changing world and work to incorporate emerging economies effectively
SFO's Murdoch investigations point to future Bribery Act enforcement role
Recent reports of the Serious Fraud Office's involvement in the News International case could reinforce SFO director Richard Alderman's argument for its independence