News
SG hires credit derivatives marketers
French bank SG, the investment banking division of Société Générale, has hired Daniel Schlaichert from Crèdit Agricole Indosuez and Edgar Leibovici from Mizuho International to sell credit derivatives.
Enron files complaint against six of its former banks
Houston-based Enron last month filed a court complaint against six of its former banks, claiming they gave bad financial advice that contributed to its demise in late 2001. As a bankrupt company, Enron is required to try to recover as much as it can for…
US body calls for electricity reliability organisation
The Edison Electric Institute (EEI) says the creation of an electricity reliability organisation with regulatory oversight is vital for developing and enforcing mandatory reliability rules and standards for US power sector participants.
Barrier to entry
Bank of America and UBS are still trying to overcome obstacles that could prevent them entering physical power trading in the US. Federal Energy Regulatory Commission regulations represent the biggest obstacle. Paul Lyon reports
Chicago Mercantile Exchange to list European weather contracts
The Chicago Mercantile Exchange (CME) has started offering European weather derivatives, referenced on five cities’ temperatures.
Calpine completes project financing in Wisconsin
California power company Calpine Corp has completed a $230 million non-recourse project financing for its 600-megawatt (MW) gas-fuelled electricity-generating Riverside Energy Center in Beloit, Wisconsin.
US Congress Basel II bill is put on hold, for now
Washington DC – The bill written by the House of Representatives' Financial Services Committee, which was designed to take control of the Basel II negotiation process away from US regulators and hand it to Congress, has been shelved for now, say…
Sector roundup
Sectors
Hedge fund body says 100% hedge fund registration unnecessary
The Managed Funds Association (MFA) believes the current level of regulatory oversight of hedge funds is sufficient. The claim was made in response to the Securities and Exchange Commission (SEC) floating the idea of requiring all managers to be…
News in brief
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Tremont expands hedge fund database
Tremont Advisers, a consulting and information provider for the alternative investment business, has expanded its Tass commercial hedge fund database. It has introduced a range of online tools making it easier for managers to register their funds for the…
BarCap launches online metals trading
Barclays Capital, the investment banking division of UK bank Barclays, has launched an online base and precious metals trading platform.
DrKW broadens its horizons
technology news
Debt boost at ABN Amro
people news
Market strong for Asian CDOs
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