News
CFTC Establishes New Energy Markets Advisory Committee
The Commodity Futures Trading Commission (CFTC) has set up an advisory committee providing a public forum to examine emerging issues related to the energy markets and the CFTC’s role in these markets under the Commodity Exchange Act.
Credit Suisse’s Abbasi moves to Asia
Credit Suisse has promoted its head of European securities structured derivative sales, Osama Abbasi, to head global securities for non-Japan Asia and Australia.
New chairman and CEO for UBS Investment Bank
Jerker Johansson has been appointed chairman and chief executive officer (CEO) of UBS’s investment bank division. He will also join the group executive board. He will be based in London and take up his new position from March 17.
BNP Paribas appoints commodity derivatives head in Asia
Frederic Hervouet has been appointed head of commodity investor derivatives for Asia at BNP Paribas, reporting to Lionel Semonin, global head of commodity investor derivatives.
HBOS agrees SAS consumer contract
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Société Générale gets a cash infusion
Société Générale (SG) is the latest of several banks to raise money through the capital markets after suffering multibillion-dollar losses. Unlike several Wall Street banks issuing mandatory convertibles, the French bank will sell stock and give current…
Prudential Fixed Income Management names chief investment officer
Prudential Fixed Income Management, an asset management business of Prudential Financial, has appointed Michael Lillard as chief investment officer (CIO), responsible for overseeing all portfolio management and trading across the firm. Additionally, the…
Credit crisis losses could reach $400 billion
Write-offs of losses on securities linked to US subprime mortgages could reach $400 billion, according to German finance minister Peer Steinbrück, speaking after the recent G-7 meeting in Tokyo.
US-China commission warns of fraud risk
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Sky Road Power Platform Launched
Software solutions provider Sky Road has launched the Sky Road Power Platform, providing access to all pricing points in the PJM Interconnection, New England, New York, and Midwest Independent System Operator (ISO) /Regional Transmission Organization …
Project Rainbow to rival European exchanges
A new trading platform - dubbed Project Rainbow - is being developed by a consortium of major derivatives trading houses to compete with Europe’s exchanges, according to a source at a large European bank.
RBC in equity and mutual funds expansion
Franck Morotti has joined RBC Capital Markets as head of equity structured product trading for Europe. The appointment is the first in a series of hires marking the company’s expansion both in equity and mutual fund derivatives.
Investigators step up pressure on rating agencies
Criminal investigators and regulators in the US have increased the pressure on credit rating agencies, saying they were "central" to the subprime crisis.
FSA focuses on priority risks for 2008
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SEC and EU start mutual recognition talks on exchange trading
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SSY freight screen links to NOS for clearing
Shipbroker SSY has added a direct link to NOS clearing for clients of is freight derivatives trading platform, run in conjunction with globalCOAL.
BoA institutional equities sales head leaves
Dean Curnutt, New York-based head of institutional equity derivatives sales at Bank of America, has left the bank.
CME faces competition questions from DOJ
The US Department of Justice (DOJ) has questioned the Chicago Mercantile Exchange's vertical structure, and whether it creates an anti-competitive marketplace. A DOJ letter, dated January 31 and addressed to the US Department of Treasury, argued that the…
Lagarde: SocGen losses due to poor op risk
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