News
CSI and BITS cut outsource risk
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Subprime fallout: US passes lending reforms
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Small businesses burdened by SOX costs, despite reforms
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Nymex takes 15% share in Imarex
New York Mercantile Exchange (Nymex) has agreed to acquire 15.1% of Norwegian derivatives exchange Imarex for around $52 million. Nymex will buy the shares from founding Imarex shareholder Frontline, a Bermuda-based crude oil tanker company.
JP Morgan takes Choukroun from BNP Paribas
David Choukroun has joined JP Morgan as managing director and global head of product development for flow and exotic derivatives within its equity derivatives group.
BarCap aims swap indexes at LDI market
Barclays Capital has launched indexes of nominal and inflation swaps, aimed at pension managers following liability-driven investment (LDI) strategies.
Lamfalussy enhancements proposed by the FSA and HM Treasury
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Iosco task force latest to investigate subprime crisis
The Madrid-based International Organisation of Securities Commissions (Iosco) is creating a task force to review the recent disturbance in global credit markets and decide whether the body can help prevent such problems in future.
Dresdner hit by credit crisis, but BNP sails through
Dresdner Bank, the banking arm of the German insurance group Allianz, has seen a sharp drop in income in the wake of the summer's upheavals, but BNP Paribas has been able to avoid the worst of the damage.
Wachovia declares $1.1 billion writedown for October
Wachovia has announced $1.1 billion in writedowns for the month of October, as the bank’s holdings in collateralised debt obligations (CDOs) and mortgage-backed securities (MBS) continue to lose value.
Europe’s IFRS implementation working, says report
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Hedge funds start to police themselves
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Crowded trade increases turmoil again, say CROs
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Morgan Stanley and Merrill Lynch reveal billions more subprime damage
The subprime crisis continues to deepen as Morgan Stanley and Merrill Lynch, two of the worst-affected US banks, reveal further damage - and an SEC investigation into Merrill Lynch.
Oil & gas construction costs reach new high
Costs associated with constructing new oil & gas facilities have surged to a record high, says Cambridge Energy Research Associates (CERA).
CNE innovates in energy risk management
Constellation NewEnergy (CNE), a subsidiary of US utility Constellation Energy, has completed a successful trial of a new risk management programme for large industrial users.