News
LNG, shale impact on US nat gas: Rodney Malcolm, Citigroup
Citigroup commodities head Rodney Malcolm discusses the natural gas market, focusing on how liquefied natural gas (LNG) and shale gas production are likely to impact regional markets and the global gas market
CFTC defends clearing membership capital requirement
Commissioners argue open access is necessary, but might consider raising the $50 million minimum for CCP membership at the end of the consultation period
FSA: UK banks failing on money-laundering controls
Two banks under investigation and more could follow in crackdown on inadequate safeguards
iShares launches local currency emerging market debt ETF
iShares has listed an exchange-traded fund in London in response to institutional demand for access to emerging market bonds and currencies
Law firm Paul Hastings adds to leveraged finance team
Rich Farley joins from rival, Cahill Gordon & Reindel
Energy experts eye Dodd-Frank tech benefits
Data reporting systems may be far from Dodd-Frank friendly in the energy sector, but experts say users are likely to benefit once they are up and running
ICE Europe's commitment of traders reports welcomed by participants
ICE Futures Europe is publishing commitment of traders (COT) reports for its global commodity benchmark ICE Brent crude and ICE gas-oil futures
Dodd-Frank ready? Structure's Huxtable
More than 75% of energy companies are in “wait-and-see” mode or still assessing how Dodd-Frank regulation will affect their business, according to The Structure Group's Leonard Huxtable
US carbon outlook: John Melby, GreenX
John Melby of Green Exchange (GreenX) discusses the current carbon market in the US, the potential for international links in the future and the emergence of other environmental markets such as water
Cole: FCA will be more interventionist than FSA
Margaret Cole of the FSA tells participants at a CSFI event that a change in culture from the FSA to the FCA will allow for a more proactive regulator
Excessive capital requirements will make markets more chaotic – Myron Scholes
Nobel winning quant makes the case for market-making as a stabilising force and a source of returns
Merged Spanish savings banks expected to have greater appetite for structured products
Consolidation among Spanish savings banks has temporarily stalled structured products distribution, but many believe larger distribution channels will eventually result from the mergers
Nomura names fixed income research head
Des Supple replaces Jim McCormick as EMEA research head for fixed income
Spanish government debt issuance competing with structured products, say providers
Spanish regional government bonds aimed at retail investors are causing concern among some structured products providers
Lloyds abandons AMA
Lloyds has abandoned the AMA after trying to combine two models, losing key staff and coming under scrutiny from regulators
Macroeconomic uncertainty boosts demand for gold and oil exposure
Continued uncertainty about inflation and deepening concerns over sovereign default risks in Europe are making the commodities increasingly attractive as hedging tools
EFETnet, DTCC to set up commodity derivatives repository
A partnership between EFETnet and DTCC aims to create a global commodity derivatives trade repository, which will provide regulators one point of contact for trade data
Largest Sifis should hold capital surcharge of at least 3%, says FDIC’s Bair
FDIC chairman Sheila Bair rejects argument by some bankers that a Sifi surcharge is not necessary
Risk India: ETFs set to grow in India, but regulators wary of systemic risk
A panel of experts at the Risk India conference in Mumbai believes the ETF market is set for growth in India, but expressed concern about synthetic products
Citi reorganises structured products; Burns to accept new role
Citi has announced a reorganisation of its structured products group, mixing institutional and regional structuring and opening distribution to most of the bank's retail investment products
DTCC and Swift eye FX trade repository
New York-based group set to develop trade repository for every other OTC asset class and has pitched for foreign exchange in partnership with Swift
IIF’s Dallara criticises Basel Committee for shortcomings on governance reform
Institute of International Finance managing director Charles Dallara “deeply troubled” by the Basel Committee’s lack of focus on bank risk culture
Australian regulators suggest clearing exemption for foreign exchange
Reserve Bank of Australia discussion paper commits to harmonising rules with US and Europe
Fraud by long-serving employees rising, survey finds
Typical fraud is committed by senior financial managers and goes unnoticed for three years, according to KPMG