News
CFTC petitioned to allow clearing of OTC agricultural contracts
Agora-X an electronic trading and negotiation platform for commodities, has petitioned the Commodity Futures Trading Commission (CFTC) to allow the clearing of over-the-counter (OTC) contracts in major agricultural commodities.
Carbon registry link-up to boost trading volumes
The long-awaited link up of the European Union's emissions trading scheme with the Kyoto Protocol's carbon credit registry could take emissions trading to a new level, finds Katie Holliday
Energy sector rivals banking for big bonuses
No longer banking’s poor relation, the energy sector is looking increasingly attractive to job seekers as salaries have increased by 12% and average bonuses have risen by a record 21% in 2008, according to consultancy group GRS.
Kaupthing debt set at 6.625% and 2.375%
Senior debt on failed Icelandic bank Kaupthing has been settled at 6.625% and subordinated debt at 2.375% in a credit event auction on November 7.
CDS spreads move out on financial institutions
The cost of credit protection on UK banks widened in early trading today, following falls in equity markets across the globe yesterday.
UK’s FSA sets sights on retail banking
Daily news headlines
EU aviation emission targets seen too low; reviewed 2013
The Justice and Home Affairs Council of the European Union has announced that aviation will be included in the Emissions Trading Scheme (ETS) from 1 January 2012, following a meeting in Luxembourg on October 24.
ICE Clear Europe goes live
London-based energy exchange ICE Futures Europe yesterday successfully switched its clearing operations from LCH.Clearnet to is own ICE Clear Europe clearing house.
DTCC launches weekly CDS update
The Depository Trust and Clearing Corporation (DTCC), the largest derivatives clearing house in the US, released its first weekly snapshot of the credit derivatives market yesterday.
Ted spread and Libor drop again
Confidence in the interbank lending markets improved today, with the Ted spread and Libor continuing to fall.
JP Morgan closes prop positioning unit
JP Morgan is closing its proprietary positioning unit, entailing significant job losses among its 80-strong staff.
Ambac and MBIA record heavy Q3 losses
Battered by mortgage-related positions and credit losses, bond-insurance companies Ambac and MBIA both took a hit in the third quarter.
Glitnir debt settled at 3% and 0.125%
Another failed Icelandic bank, Glitnir, has seen its senior debt settled at 3% and subordinated debt at 0.125% in a credit event auction today.
CDS losses hit Swiss Re
Swiss Re, the world’s second largest reinsurer, has reported a third quarter net loss of SFr 304 million ($262 million) after being hit by heavy mark-to-market writedowns on its structured credit exposures.