News
Credit Suisse sacks traders involved in mispricing
Credit Suisse has sacked or suspended the traders behind the mispricing that cost it a $2.65 billion writedown last month.
Havens and Klein named institutional client heads at Citi
Michael Klein and John Havens jointly replaced Citi chief executive Vikram Pandit as chairman and chief executive of the bank's institutional clients group in New York on March 17.
Krause joins Deutsche Bank's management board
Stefan Krause has been named as the next chief financial officer of Deutsche Bank - he will succeed Anthony di Iorio on his retirement on October 1.
Solvency II draft report from European Parliament Committee
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Deutsche suspends FX traders
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Briault leaves FSA
Clive Briault, the UK Financial Services Authority's head of retail supervision, will leave the FSA at the end of next month.
GSEs plan $2 trillion in US mortgage purchases
Fannie Mae, Freddie Mac and their regulator, the Office of Federal Housing Enterprise Oversight (OFHEO), have announced an initiative potentially worth $2 trillion to increase liquidity in the troubled US mortgage market.
RGGI allowance auction date announced
States participating in the Regional Greenhouse Gas Initiative (RGGI), an agreement among the Governors of ten Northeastern and Mid-Atlantic states to reduce greenhouse gases from power plants, have announced the date for the first ever CO2 allowance…
SG promotes chief financial officer
Société Générale has named Frédéric Oudea its deputy chief executive, joining two others.
Kirnon: Agencies and banks can do more for transparency
Both rating agencies and banks can do more to meet investor demand for greater transparency in the structured credit market, said Noel Kirnon, New York-based head of global structured finance at Moody’s Investors Service.
Lehman back from the brink?
Lehman Brothers saw its shares rise dramatically today as it reassured investors about its liquidity supply.
Green Exchange begins trading
In keeping with the green theme of St. Patrick’s Day, The Green Exchange, a partnership that incorporates brokers, traders, venture capital firms and investment banks commenced trading today.
Green Exchange begins trading
In keeping with the green theme of St. Patrick’s Day, The Green Exchange, a partnership that incorporates brokers, traders, venture capital firms and investment banks commenced trading today.
MF Global plunges amid liquidity fears
MF Global, the world's largest broker of exchange-listed futures and options, sought to reassure investors that it had sufficient funds despite seeing its share price fall by 78% following a spate of rumours to the contrary.
JP Morgan to guarantee the trading obligations of Bear Energy
Following JP Morgan’s planned $2 per share acquisition of Bear Stearns after a run on the company ended 85 years of independence for the securities firm, the investment bank has moved to secure the trading obligations of Bear’s subsidiaries, including…
Tullett Prebon acquires Primex
Interdealer broker Tullett Prebon is to acquire petroleum products broker Primex.
Nymex agrees “definitive” $9.4 billion merger with CME
CME Group, the parent company of the Chicago Mercantile Exchange (CME), is to acquire the New York Mercantile Exchange (Nymex) on terms that remain unchanged from CME’s original offer first put forward in January.
Fed will support securities market directly
The US Federal Reserve Bank will start backing primary securities dealers as well as banks through its discount in another attempt to stave off a general financial collapse, it announced yesterday.
CME Group buys Nymex and offloads metals
Exchange consolidation continued over the weekend, with CME Group buying Nymex, the New York-based metals and energy exchange, and selling its own metals business to the NYSE Euronext group.