News
Traders debate position limits at CFTC hearings
The CFTC announced plans to investigate the need for firm position limits in the energy markets on July 7, 2009.
Financials could face carbon curbs under Senate proposals
Senators could call for curbs on who can participate in the carbon market created under the American Clean Energy and Security Act (ACES) when it is considered by the Senate after the August recess. It was passed by the House of Representatives on June…
CDS: Spreads narrow again
Credit default swap 5-year mid-levels for structured products issuers (August 25)
US Wrap: RBC brings reverse convertible total to 35
Royal Bank of Canada (RBC) has brought its total reverse convertible count in the US market to 35. The bank has broadened its scope to include the stock of exchanges as underlyings in the new clutch of notes, including Nasdaq and NYSE Euronext.
Risk Australia : Prudent Australia in bid to steer global risk policy
Australia appears to have escaped the worst of the global financial crisis but senior bankers, leading academics and a representative from the Australian Treasury speaking at Risk Australia 2009 in Sydney today stressed there is no room for complacency…
CLS: US-Canada forex settlement due in 2010
CLS Bank, the multi-currency cash settlement system provider, is aiming to settle same-day US dollar/Canadian dollar and US dollar/Mexican peso currency trades by the end of 2010, according to chief executive Rob Close.
Calmer markets reflected in VAR figures
Lower volatility across asset classes in the second quarter of the year produced lower value-at-risk figures at almost all major banks, according to a Risk survey.
Stress on US banks rises in Q2
US banks face rising losses and continuing economic stress, with little reason for optimism in their second-quarter results, analysts say.
Pinchin retires from Tradition
David Pinchin has announced his retirement at the end of August as chief operating officer (COO) of Compagnie Financière Tradition, the world's third largest interdealer broker.
Opposition to US climate change legislation gathers pace
The American Petroleum Institute (API) has stepped up efforts to dissuade US Senators from passing cap-and-trade legislation in September.
Tradition COO to retire
David Pinchin will retire from his position as chief operating officer (COO) for the Swiss brokerage Compagnie Financiere Tradition (CFT) from August 31.
RBS hires head of equity derivatives strategy
RBS Global Banking and Markets has appointed Stephen Einchcomb as head of equity derivatives strategy for Europe and the US.
Thomson restructuring causes headache for CDS index tranches
Market participants are uncertain how to deal with index tranche products referencing the iTraxx credit default swap (CDS) indexes following the restructuring credit event at French media company Thomson, which was a member of the indexes.
Investors should force Hong Kong regulatory reform, says legislator
Ronny Tong, a former barrister and member of the Legislative Council of Hong Kong (LegCo), believes Hong Kong should replace its various financial regulators with a unified regulatory body. But he told a Hong Kong Investment Funds Association luncheon on…
ETF Securities launches Japanese platform for commodities funds
ETF Securities has launched a new platform in Japan for physically-backed precious metal commodities exchange-traded funds (ETFs). Five funds began trading on the Tokyo Stock Exchange today.
US Wrap: RBC steps into reverse convertibles with commodity equities
Royal Bank of Canada (RBC) has launched a clutch of new reverse convertible notes into the US market with a focus on commodity equities. Reference stocks for the latest structures include Arch Coal, Chesapeake Energy and Frontier Oil on the energy front.
HSBC launches ETF strategy for Europe
HSBC will launch its first exchange traded fund (ETF) product in Europe tomorrow (August 25). Listed on the London Stock Exchange and tracking the FTSE 100 index, the Ireland-domiciled ETF will be sold first in the UK, and later in continental Europe…
$1bn warrant auction design still undecided, US Treasury admits
Despite news of an impending auction of more than $1 billion of warrants on JP Morgan by the US Treasury, it remains unclear how any such auction would work.
UNG fund secures $500million gas swap
Exchange traded fund (ETF) the United States Natural Gas Fund (UNG) entered into a natural gas total return swap for $500 million at the end of the last week, following a $250 million bilateral gas swap secured in July.
Asic takes over regulation of exchange trading
The Australian government has ended self-regulation of the Australian Securities Exchange (ASX), making the Australian Securities and Investments Commission (Asic) responsible for supervising trading on Australian stock markets from the third quarter of…
UK tax authority arrests carbon fraud suspects
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Ex-fund manager ignored compliance rules
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US Wrap: Caution on S&P 500 performance
UBS has launched a new non-directional offering on the S&P 500 which pays income regardless of whether the index moves up or down. The 18 month product pays 100% positive participation provided that the index does not go below 70% of its initial starting…
UK wrap: Meteor bursts forth with an at risk kickout plan
Meteor blazed a lone trail in a week that was dominated by the re-launch of three Royal Bank of Scotland (RBS) notes.