News
CAO finance chief sentenced in Singapore
A Singapore court has sentenced Peter Lim, former chief finance officer of China Aviation Oil (CAO), to two years in prison for his part in the firm's 2004 derivatives scandal.
E.ON bids $35 bn for Endesa
German power and gas company E.ON has announced a $35 billion (29.1 billion euro) bid for Spain’s largest power company Endesa.
Macquarie threatens LSE pullout
Macquarie Bank has confirmed it will not increase its current offer of 580p for shares in the London Stock Exchange (LSE) and has threatened to pull out of the running once that bid expires at the end of the month, according to a company statement.
Five brokers promoted at Tullett Prebon
Tullett Prebon has promoted four rates brokers and an energy broker in its London office.
Fitch expects growing Chinese CDO issuance
Fitch Ratings said it expects more issuance of collateralised debt obligations (CDOs) from China in 2006, following the launch of the country’s first officially recognised CDO in December 2005.
Euronext goes live on single feed
Pan-European exchange Euronext is shutting down LMF 2, its derivatives data feed for the Brussels, Lisbon, London and Paris markets, after completing the consolidation of all of its feeds onto one platform.
Fed praises credit derivatives progress
The New York Federal Reserve Bank has praised credit derivatives dealers for cutting delays in deal processing
BIS group to work on settlement delays
A Bank of International Settlements (BIS) working group will look at settlement problems in the over-the-counter derivatives market, in an effort to deal with delays in trade processing.
Deutsche Bank recruits US liability structuring head
Deutsche Bank's debt capital markets group has recruited John Curran as head of liability structuring in North America.
Spectron brokers first UK dark spread
The first brokered UK dark spread has been traded through UK-headquartered brokerage Spectron. The trade, between Sempra and Scottish Power was a Summer ‘06 deal, representing 5,000 tonnes of coal (API#2) versus 15 MW of electricity. It is understood to…
Pension funds move into alternative investments
Pension funds are increasingly investing in alternative assets such as real estate in order to reduce their liabilities, according to UK-based investment consultants Watson Wyatt.
Hong Kong Exchange to expand derivatives warrant data
Hong Kong Exchanges and Clearing Limited (KKEx) is introducing a new derivatives warrants information website in mid-2006.
BIS group to work on settlement delays
A Bank of International Settlements (BIS) working group will look at settlement problems in the over-the-counter derivatives market, in an effort to deal with delays in trade processing.
Bloomberg and six banks in IR trading joint venture
Six international banks and financial information provider Bloomberg have launched a joint venture company to operate an online interest rate derivative trading platform.
DTCC developing trade warehouse for credit derivatives
The Depository Trust & Clearing Corporation (DTCC) is developing a central trade information warehouse and support infrastructure in an attempt to standardise how credit derivative trades are processed across the industry.
Isda, ICMA and TBMA form joint capital markets body
Three capital markets associations are to form a joint body that aims to streamline industry-wide co-operation between the derivatives, securities and bond markets. The Global Capital Markets Board (GCMB) will develop a common policy on market,…