News
Dubai Mercantile Exchange delays launch by a month
The Dubai Mercantile Exchange (DME) has pushed back its launch date to June 1, subject to regulatory approvals of its clearing arrangement.
ICE launches Middle East sour crude contract
IntercontinentalExchange will go head-to-head with the Dubai Mercantile Exchange (DME) by launching a sour crude futures contract based on Middle East production.
DME launch delayed
The Dubai Mercantile Exchange (DME) today announced that it has delayed its launch by one month until June 1, 2007, subject to regulatory approvals of its clearing arrangement.
CDS market size hits $34.5 trillion, says Isda
The credit default swap (CDS) market has continued its rapid growth, rocketing to $34.5 trillion in notional outstanding by the end of 2006, according to the latest market survey by the International Swaps and Derivatives Association which was released…
Moody’s: European credit quality decline slowing, but no upturn expected
The decline of credit quality in western Europe slowed over the first quarter of 2007 due to strong economic growth especially in the financial sector, but an upturn in the credit cycle is not in sight this year, according to a report by Moody’s…
Isda AGM: Trichet calls for more transparency
Greater transparency is needed in the credit derivatives market to allow risk managers to understand the size, distribution and concentration of risks accumulated by participants, according to Jean-Claude Trichet, president of the European Central Bank.
Bear Stearns names new European heads
Bear Stearns has named two new heads of European operations, both to be based in London.
F&C hires for quant equity strategy desk
London-based F&C Investments has hired Erik Rubingh to recruit a quantitative equity investment strategies team.
Hong Kong Exchange lists six Lyxor ETFs
Hong Kong Exchanges and Clearing (HKEx) is listing six new exchange-traded funds (ETFs), including its first global and regional equity ETFs and the first ETFs on US equities and commodities.
ISDA adds coal annex to its Master Agreement
The International Swaps and Derivatives Association (ISDA) today announced publication of the ISDA Global Physical Coal Annex to the ISDA Master Agreement.
Credit Suisse issues first long/short CCO notes as Fitch launches CCO rating criteria
Credit Suisse has completed a $190 million issuance of the world’s first long-short collateralised commodity obligation (CCO) notes. The issue followed the April 17 publication of Derivative Fitch’s rating criteria for CCOs.
Mason joins Carlyle's Asian leveraged finance group
Eric Mason has joined the Carlyle Group as a managing director in the leveraged finance group.
Derivative Fitch criticises first-generation CPDOs
First-generation constant proportion debt obligations (CPDO) do not deserve AA or AAA ratings, according to a report released yesterday by specialist rating agency Derivative Fitch.
Dresdner hires in Japan
Dresdner Kleinwort has appointed Joseph Kraft as head of capital markets for Japan, succeeding Jean-François Minier, chief executive of Asia-Pacific, who has been acting head since July 2006.
No serious risk to synthetic CDOs from mortgage crisis
US synthetic CDOs will suffer only slight damage from the continuing crisis in US subprime mortgages, according to a report from rating agency Fitch Ratings.
Nymex to launch first uranium futures contract
The New York Mercantile Exchange (Nymex) will begin trading the first uranium futures contract on May 7.
Citi acquires Old Lane and new head of alternative investments
Citi has bought US hedge fund Old Lane Partners and appointed one of its founders, Vikram Pandit, as chief executive of Citigroup Alternative Investments (CAI). Pandit’s co-founder John Havens will also join CAI as president.
ISE foreign exchange options go live
Four foreign exchange options contracts began trading on the New York-based International Securities Exchange (ISE) this morning.