News
Icap appoints David Puth non-executive director
Icap, the interdealer broker, has appointed David Puth as a non-executive director. He has also become a member of the audit and remuneration committees of Icap’s board.
Ernst & Young partners with JWG-IT to speed up Mifid compliance
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CESR charts course for supervisory convergence on EU securities
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Natixis reports €407 million in crisis damage
Paris-based investment bank Natixis lost €407 million in the third quarter of the year, according to results released yesterday.
Tullett Prebon appoints director of Scandinavian rates
Tullett Prebon, the interdealer broker, has appointed Mark Lomax as director of Scandinavian rates.
Lawsuits add to ACA Capital's downgrade misery
Embattled financial insurer ACA Capital has been dealt a further blow by the announcement that two class action lawsuits are being brought against the company on behalf of shareholders who have seen the value of their investment plummet.
VAR exceptions reflect volatile season
Investment banks reported increased numbers of high trading losses in the third quarter of this year, highlighting the volatility in the financial markets and casting doubt on their risk modelling.
ECB re-enters money markets as fears of volatility return
The European Central Bank (ECB) will push extra liquidity into the money market to counter "re-emerging risk of volatility", it announced on Friday.
HSBC plans $45 billion SIV restructuring
HSBC is to bail out two of its structured investment vehicles (SIVs), Cullinan and Asscher, blaming "the inability of most SIVs to fully roll over their senior funding in the form of commercial paper or medium-term notes" and "a continued decline in the…
PensionsFirst aims to trade pension fund longevity risk
A new London-based firm, PensionsFirst, has announced it is trying to create bonds and derivatives to address the longevity and market volatility risks of UK defined benefit pension schemes.
LiquidityHub adds dollar interest rate swaps
London-based electronic trading consortium LiquidityHub today added dollar interest rate swaps to its fixed-income liquidity-aggregation system.
Covered bond market reopens cautiously
Market making in the European interbank covered bond market reopened this afternoon, after being closed since last week, but with new conditions imposed by its governing body, the European Covered Bond Council (ECBC).
UBS's Tyger CPDO notes hit cash-out point
UBS's Tyger has become the first constant-proportion debt obligation (CPDO) to hit its cash-out trigger, resulting in 90% losses for investors in one tranche of the CPDO's debt.
Level 3 committees issue medium-term work programme
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Trichet predicts tighter regulations on banks
The president of the European Central Bank, Jean-Claude Trichet, has blamed the summer's crisis on opaque financing models and mistakes by rating agencies, and has called for an overhaul of financial regulation.
UBS names new heads of commodities
UBS has named two replacements for its previous head of commodities, Peter Ghavami, who left the bank in October.
CEIOPS publishes Solvency II QIS3 results
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2008 LDCE “under consideration”
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Op risk faces unique challenges in the Middle East
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CEIOPS conference focuses on Solvency II and Lamfalussy
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