News
EC updates FSAP imposition tables
The EC has updated its tables on the transposition of the Financial Services Action Plan (FSAP), detailing the current state of play specific to each of the member countries. Greece and Luxembourg are currently the most behind in implementing the…
Icap buys EBS currency broker for $775m
London-based inter-dealer broker Icap has bought currency broker EBS for $775 million in cash.
Fitch sees stable credit risk for iTraxx Asia ex-Japan Series 5
The credit risk of the overall iTraxx Asia ex-Japan Series 5 credit default swap (CDS) index is “broadly stable” following its rollover from Series 4, notwithstanding a ratings deterioration of certain tranches within the index, according to a report by…
S&P to release report on use of data in IRB systems
Standard & Poor’s (S&P) will shortly release a white paper concerning the use of the company’s ratings default data in internal ratings systems for low default portfolios. S&P, expected to offer the report on general release next week, examines the…
LSE £510 million payout goes ahead
Shareholders in the London Stock Exchange (LSE) yesterday backed the board's £510 million payout plan, as consolidation manoeuvring continued.
BNP Paribas to expand equity derivatives team by 200
BNP Paribas is increasing the headcount of its equity derivatives division by almost a third, in an effort to tap the growing demand for equity-linked products from emerging markets. In an interview with RiskNews , the bank’s global head of equities and…
Markit to calculate iTraxx values
Frankfurt-based International Index Company (IIC) has appointed UK-based data services provider Markit as exclusive calculation agent for the iTraxx indexes, which track the prices of credit derivatives.
Moulds appointed president of EMEAA at BoA
Jonathan Moulds is to take over from William Fall as president of Europe, Middle East, Africa and Asia (EMEAA) at Bank of America in London following Fall’s announcement of retirement after 11 years at the bank. The appointment will be effective…
Barna leaves Merrill for Deutsche equity role
Peter Barna has joined Deutsche Bank in New York as a director in the bank’s US convertible and equity linked solutions group. He comes from Merrill Lynch, where he worked for eight years, most recently as director in equity linked capital markets with…
globalCOAL and Icap settle dispute
globalCOAL and Icap Energy have settled the legal dispute between them on the use by Icap of price screens in NEWC coal swaps. Icap has formally agreed not to offer its clients electronic trading or indicative price services in NEWC or other globalCOAL…
Taiwan’s Polaris Securities launches CBO
Polaris Securities has closed its first collateralised bond obligation (CBO) transaction in Taiwan worth NTD12.2 billion ($375 million).
Thai futures contract set for April launch
The Thailand Futures Exchange (TFEX) will launch its first product, SET50 index futures, on April 28.
Dubai and Oman to develop Middle East sour crude futures
The Sultanate of Oman’s Ministry of Oil and Gas (MOG) and the Dubai Mercantile Exchange (DME) are working to develop a new Middle East sour crude futures contract backed by oil produced in Oman, which is set for launch in the fourth quarter this year.
Deutsche Börse to commence mutual fund trading
Deutsche Börse will launch trading of actively managed mutual funds next month, in a move aimed at attracting more private investors to the exchange.
CreditTrade implements straight-through processing
London-based inter-dealer broker CreditTrade has adopted straight-through processing by teaming up with London-based technology firm T-Zero. Within the next few weeks, banks will be able to streamline the processing and confirmation of credit derivatives…
Ex-Deutsche’s Raynes to head Citigroup’s structured credit division
Citigroup has appointed Michael Raynes as head of its global structured credit products division in New York. He joins from Deutsche Bank, where he spent six years, most recently as head of the global CDO group and co-head of the global securitised…
MoU between EU/EEA and Swiss supervisors on insurance supervision agreed
The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Federal Office of Private Insurance (FOPI) have released a memorandum of understanding (MoU) designed to facilitate information exchange between the EU/EEA…
BMA releases CDO data
The Bond Market Association (BMA) has made publicly available quarterly and yearly data on collateralised debt obligation (CDO) issuance for the first time. “Publishing this data is another step forward in the efforts to make the CDO market more…
BNP reshuffles credit research team
BNP Paribas has reorganised its London-based European credit research group to include a new relative-value desk.
Nasdaq buys into LSE
New York-based Nasdaq has taken a 14.99% stake in the London Stock Exchange, giving it a headstart over its rivals in the struggle for the London bourse.
The great rating debate
A conference in Paris exposed some criticism of the way the rating agencies function. Issuers and investors feel the industry suffers from a lack of competition which has harmed service levels. Sarfraz Thind reports