News
Standard confirmation for preferred CDS hammered out
Eight dealers have agreed upon standard documentation for preferred credit default swap (CDS) transactions. The new standards will likely enhance liquidity of the nascent market.
Euronext plans €1 billion cash handout for shareholders
The multi-national European exchange Euronext will return €1 billion to its shareholders in payouts and a share buyback scheme, it announced today.
'Unacceptable' for final Basel II rule to reproduce QIS 4 results, says Dugan
While expressing broad support for "the Basel II approach", the US comptroller of the currency, John Dugan, said that this was not "the same thing" as saying that a perfect proposal to implement that approach had been crafted.
LSE rebuffs Nasdaq bid
The London Stock Exchange has dismissed a takeover bid from the New York-based Nasdaq, saying it "substantially undervalues" the exchange.
European securitisation reaches highest levels
Demand from investors seeking higher investment-grade yields drove the issuance of European securitisation to its highest level last year, according to the latest quarterly report from the European Securitisation Forum (ESF). Issuance reached €319.6…
S&P places three Hong Kong CDOs on negative credit watch
Standard & Poor’s has placed the ratings on three Hong Kong synthetic collateralised debt obligations (CDOs) on credit watch with negative implications. The agency affirmed the ratings on two other Hong Kong CDOs.
GlobalCoal launches ARA FOB Barge Index, swap product
GlobalCoal has introduced the ARA FOB Barge Index based on their ARA barge contract.
Gumier to head BoA investment in Italy
Bank of America has appointed Alessandro Gumier as head of global investment banking for Italy.
UK PPF chief quits
Myra Kinghorn, chief executive of the UK Pension Protection Fund, has resigned and will leave the firm within the next three months.
SG’s Bernard Desforges to head equity derivatives in Asia
Société Générale has appointed Bernard Desforges as head of equity derivatives, Asia-Pacific.
Deutsche Bank hires UBS mortgage unit
Deutsche Bank Securities has hired three New York-based mortgage specialists from UBS – Troy Dixon, Keith Willard, and Cyle Berwanger. The new hires will expand the firm’s pass-through mortgage trading group in its global markets division, with Dixon…
Dresdner launches forex prime brokerage
German bank Dresdner Kleinwort Wasserstein (DrKW) has launched a foreign exchange prime brokerage business, completing its cross asset class prime brokerage offering.
Primus hires McLendon
Primus Guaranty, a credit derivatives boutique, has hired Charles McLendon as president of asset management - a newly created role at the company.
GlobalCoal wins injunction against Icap
The Court of Appeal in London today awarded GlobalCoal an interim injunction against Icap Energy in a dispute over an alleged breach of GlobalCoal’s product licence agreement (PLA), pending trial. GlobalCoal may now seek damages.
Barclays Capital prises Shelton from Citigroup
David Shelton has quit his position as a director in Citigroup’s global credit derivatives research unit in London, and is to join Barclays Capital.
Facing the Four Risks
CIOs must prepare for threats that could spell disaster for their firms, so how can they survive in dangerous waters?
BIS reports record year for exchange-traded derivatives
Demand for exchange-traded futures and options contracts reached an all time high last year with annual turnover up 22% on 2004, according to the latest quarterly data released by the Bank for International Settlements (BIS).
UBS, Diapason launch first biofuels index
Swiss bank UBS and Swiss commodity firm Diapason Commodities Management Investors launch the first commodity-based index for biological fuels.
DrKW expands London forex team
Dresdner Kleinwort Wasserstein (DrKW) has hired five senior staff for its London-based foreign exchange business.