News
Senegal $500m 10-year bond spread tightening shows appeal of Africa debt
Yield on new 2021 Senegal bond tightens over 100bp after issue; investors suggest there is room for further tightening
Renaissance Capital hires new equity derivatives head
Leonard Ellis to lead firm’s effort in US equity derivatives market
Rajaratnam: 'The Wire' meets Wall Street
OR&R speaks to lawyers on both sides of the Atlantic to divine the implications of the largest insider-trading conviction of all time
OTC markets stagnated in 2010, BIS says
Notional volumes record modest growth in late 2010 after falling in first half of the year
New loan-loss reserve requirement under Basel III set to crimp profits at Chinese banks
A new 2.5% minimum loan-loss reserve requirement to be implemented in China under Basel III is likely to reduce the ability of banks to distribute profits to shareholders
Investors more pessimistic on global growth, according to BAML fund manager survey
Investors' expectations of global growth have dipped, according to a Bank of America Merrill Lynch survey of fund managers
Resolution regimes could cause bank CDS spreads to tighten
Credit analysts predict drop in credit default swap spreads under new bank resolution regimes
Standard & Poor's to create head of structured products role in bid to woo distributors
The index provider says it plans to name a structured products head to take charge of aggressive outreach efforts to the distributor community
FRN issuance on the rise, as investors go on defensive
An increase in floating rate issuance may be the start of a prolonged trend, as investors look for protection against possible interest rate hikes
Trend towards in-house clearing could increase fees and admin
The LME is the latest exchange considering whether to build its own clearing business. If the trend continues, banks could face more fees and administration
Saadon to head Traiana's European expansion
Co-founder will move to London as EMEA head
Herzberg joins BTG Pactual to head equity trading
Former JP Morgan equity derivatives head takes post at London office
Sheer volume of new regulations is 'risk in itself'
Banks struggling to cope with implementing the wave of new legislation might miss indications of another crisis
CIBC appoints wholesale banking co-heads
Canadian bank names Geoff Belsher and Harry Culham as wholesale banking co-heads
Eurostat continues to deny knowledge of Greece-Goldman swaps
Statistics body insists it only found out about the controversial cross-currency swaps between Greece and Goldman Sachs in 2010
Eurozone sovereign bailouts likely to stop at Portugal, say investors
The Eurozone crisis has already forced three members of the currency union to take EU/IMF bailouts but Spain, the next potential target of investors, is unlikely to follow
UK government backs expansion of Emir
Treasury minister Mark Hoban says listed markets should not be exempt from Emir's access and competition rules
BCBS issues final version of report on financial sector pay
Basel Committee on Banking Supervision reveals risk-adjusted remuneration report; urges large firms to move away from remunerating employees based purely on profits
Bank of Korea wrong-foots market with rate hold; questions raised on anti-inflation stance and bank NPLs
The Bank of Korea held interest rates yesterday in a surprise move which caught fixed-income traders who had factored in a 25-basis point rise by surprise. The move questions Korea’s efforts to tackle inflation and raises concerns that the central bank…
RBI deputy governor maps out the future of OTC derivatives in India
A number of new derivatives initiatives are in the pipeline in India, including the development of a credit default swap market, interest rate forwards and derivatives trade compression services, according to Subir Gokarn, deputy governor of the Reserve…
European Commission 'unhappy' with Dodd-Frank extraterritoriality
EC official voices concern over the long arm of US derivatives rules
New central securities company to facilitate short selling in China
One of China's leading securities houses sees a bright future for domestic investment banks developing hedge fund-like trading businesses, once securities short-selling is further liberalised on the mainland through the establishment of a central…
Bribery Act requirements just good business practice, says consultancy
Kroll chair, Tommy Helsby, says firms should already have most systems in place and implementing better procedures will benefit businesses
Sigor plans new LDCE to capture operational risk losses since crisis
Working group is also considering raising betas in the Basel II standardised approach to encourage movement towards the AMA, but some say this is not the answer