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CDSs tighten on financials and widen on sovereigns
In early European trading spreads on US and European financials tightened, while Middle Eastern and European sovereigns widened.
SG's Johnson relocates to Paris from Seoul
Nick Johnson has left his role as Seoul-based branch manager of SG Securities, Société Générale's South Korean branch, to become Europe head of the bank's new security and anti-fraud (Safe) department in Paris.
Sifma approves plan to unfreeze $200bn of CMOs
A plan to re-inject liquidity into into the collateralised mortgage obligation (CMO) market will go into action later this month after being approved by a major US industry association.
G-30 calls for far-reaching reforms
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JP Morgan Q4 net income plunges 74%
JP Morgan remained in the black in the fourth quarter of 2008, but its profits dropped sharply to $702 million after significant losses on leveraged loan and mortgage exposure.
G-30: large banks may be too big to trade
Large banks could be restricted from risky prop trading for their own good, suggests a Group of Thirty (G-30) report issued today.
New Chicago petroleum contracts to be listed on ClearPort
CME Group has launched four Chicago petroleum contracts on its ClearPort trading platform.
CDSs widen on Australia and tighten on financials
Spreads on Australian financials and Asian telecommunication companies widened in European trading this morning, while banks were trading tighter in the US and Europe.
Browne moves from RBC to CIBC
Darcy Browne, previously RBC's head of North American institutional forex sales, has moved to CIBC as head of institutional forex sales.
RBS combines CDO/CLO business with MBS/ABS division in Asia
The Royal Bank of Scotland (RBS) has combined its Asian collateralised debt obligation and collateralised loan obligation business with the mortgage-backed/asset-backed securities (MBS/ABS) product business under Byron Holmes, Tokyo-based head of Asia…
HKMA amends FX risk guidelines
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Ecuador recovery set at 31.375% in first sovereign CDS auction
The recovery rate for government bonds issued by the Republic of Ecuador was set at 31.375% today, in an auction to cash-settle sovereign credit default swap (CDS) contracts linked to the country's debt.
Vattenfall Trading founds shipping company
Vattenfall Trading Services has founded Copenhagen-based shipping company VT Shipping after acquiring three barges and three tugs from a Danish shipping company late last year.
FCStone buys Australian risk management firm
US commodity risk management firm FCStone Group has bought the risk management arm of Australian rural services provider Elders for an undisclosed sum.
RWE and E.ON team up for UK nuclear projects
German utilities RWE and E.ON have formed a joint-venture to develop new nuclear power stations in the UK.
FCStone buys Australian risk management firm
US commodity risk management firm FCStone Group has bought the risk management arm of Australian rural services provider Elders for an undisclosed sum.
Deutsche Bank expects €4.8 billion Q4 loss
Deutsche Bank announced on Wednesday it anticipates a €4.8 billion loss in the fourth quarter of 2008, which would mean a full-year loss of €3.9 billion.
Standard Chartered chairman joins UK government
Standard Chartered's non-executive chairman, Mervyn Davies, has stepped down to join the UK government as minister for trade promotion and investment.
CDSs on eurozone sovereigns widen
The cost of credit protection on eurozone sovereigns widened in European trading this morning, while in the US, spreads on Citi ballooned.
SGX appoints Foo head of operations
The Singapore Exchange (SGX) has appointed Benjamin Foo as head of operations.
TriOptima CDS tear-ups cut risk by $30.2 trillion
Stockholm-headquartered technology company TriOptima has reported that its portfolio compression service, triReduce, eliminated $30.2 trillion in notional principal from the credit default swap (CDS) market in 2008.
International Centre for Financial Regulation officially launched in London
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BIS elects new chairman
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Industry effort launched to find new reporting standards for risk
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