News
FOA launches UK power market initiative
The Futures and Options Association (FOA) has launched an initiative that aims to introduce a new design for wholesale UK power markets.
Amaranth trades “altered natural gas prices.”
Energy hedge fund Amaranth Advisors exploited legal loopholes and altered natural gas prices through “excessive speculation” before its 2006 implosion, a US senate investigation has found.
RBS hires to financial institutions securitisation
Royal Bank of Scotland (RBS) has hired Hubert Tissier de Mallerais as a managing director in its financial institutions securitisation team.
Credit Suisse makes fixed-income hires in Sydney
Credit Suisse has made three new hires to its fixed-income sales and coverage teams in Sydney for its Australian investment banking business, reflecting strong momentum in corporate sales and structured products, says the bank.
Deutsche Bank Securities appoints rates trading head
Tom Hartnett is joining Deutsche Bank Securities as head of core rates trading within the bank’s global rates business.
Ethanol in “hangover mode” as sector looks to restructure
The unbridled optimism which spurred the ethanol markets in 2006 has been replaced by fears over the sustainability of some corn-based projects, according analysts speaking at this week’s Renewable Energy Finance Forum in New York.
Mixed motives as ICE buys Canadian exchange
IntercontinentalExchange (ICE), the electronic energy and soft commodity bourse, has entered into an agreement to purchase Winnipeg Commodity Exchange (WCE), Canada’s main agricultural commodity futures and options exchange and home to the world’s…
Spectron trades first OTC REC option
Energy broker Spectron has brokered the first over-the-counter option on US renewable energy credits (RECs)
BarCap and Deutsche launch bespoke CPDO
Barclays Capital and Deutsche Asset Management have come to market with the first fully managed bespoke constant proportion debt obligation (CPDO).
S&P backs microfinance CDOs
Standard and Poor’s, which rated the first full capital structure collateralised debt obligation based on microfinance loans in May this year, has released a preliminary ratings framework for microfinance institutions (MFI).
GlobalView to offer SSY tanker data
Tanker data from shipbroker Simpson, Spence & Young (SSY) will become available through data management provider GlobalView’s MarketView solution.
RBS rumours rise on Sempra sale speculation
Sempra Energy is reportedly in talks with the Royal Bank of Scotland (RBS) regarding the potential sale of its commodities arm, Sempra Commodities.
BNP Paribas adds two in FX sales to hedge funds
BNP Paribas has hired Peter Snasdell and Peregrine Hood to its London-based hedge fund sales desk for foreign exchange.
HSBC creates Asia-Pacific structured credit product head
Matthew Cannon, HSBC’s London-based head of structured credit marketing for Europe, the Middle East and Africa, has been appointed to a newly created role.
Rabobank closing carry trade CPDO
Rabobank is planning to close a structured foreign exchange product next week that invests in the carry trade while using the leverage mechanism of a constant proportion debt obligation (CPDO).
Hedge fund working group to review best practice
A working group of 13 primarily UK-based hedge funds is to review best practice in the industry and examine the possibility of industry-wide standards.
CBOE launches PutWrite index
The Chicago Board Options Exchange (CBOE) has launched the CBOE S&P 500 PutWrite Index, a new benchmark index based on selling S&P 500 Index (SPX) put options in order to buy short-term US Treasury bills.