News
People: Bailey to be first head of the PRA
Bank of England veteran lands top job at new UK prudential regulator; Kengeter leaves UBS; Getco names new management team; Goldman forex head departs; LCH.Clearnet names new US chief exec
Platts and Shell seek support for competing Brent crude reforms
Oil major Shell and price reporting agency Platts offer rival plans to fix market distortions in Brent crude oil
NZX to launch equity derivatives market
New Zealand Stock Exchange to launch equity derivatives to meet demand for hedging instruments
Thailand insurers shun interest rate derivatives for RBC liability hedging
Derivatives and structured products remain unpopular with Thai insurers looking to hedge their liabilities following the introduction of a risk-based capital framework
Euro's future unaffected by turmoil in Italy, say panellists
The results of Italy's election may have created uncertainty, but the eurozone's future remains intact, according to speakers at the FX Invest Europe conference
Italian anti-austerity vote could halt structured products revival, fear providers
Despite strong growth in Italy's structured products market last year, bankers say the mood has quickly turned conservative following the elections this week
China to get its first Euro Stoxx 50 ETF
Stoxx has licensed the Euro stoxx 50 to China Universal for an ETF, marking the first of its kind in the country
Gensler: OIS rate could be replacement for Libor
New benchmark must be based on "facts, not fiction", says CFTC chairman
EU bonus cap doubted by industry experts
1:2 maximum is "poorly thought through"
China shows signs that it is moving towards opening to hedge funds
China is showing encouraging signs that it is willing to open its market to foreign investors and funds. Hedge funds are still excluded from the market but steps are being taken in the right direction.
ASX to use cross-margining efficiencies in battle for Australia clearing market
Australian domestic clearing house hoping to use lower margin costs as a means to win market share
Man Group plans hedge fund acquisitions and expansion of US business
Man Group is looking at opportunities for acquisitions and establishing a larger presence in the US hedge fund market.
FSA arrests three in insider dealing investigation
Cost means insider prosecutions will be rare, legal expert warns
SEC says crucial information being withheld from investors in structured notes
In its latest letter, the SEC orders banks to highlight the difference between fair market value and issue price to help investors see what their investment is worth
Insurers urged to explore positive basis trades
Arbitrage opportunities on government bonds could bring yield boost
Swedish Solvency II discount rate move 'must address sensitivity concerns'
Extrapolation methodology must be robust and allow insurers to manage solvency positions, says Insurance Sweden
Let swap platforms trade futures – Icap’s Spencer
Icap's chief executive says proposed derivatives rules are reinforcing exchange monopolies
Tankard natural gas indexes greeted with scepticism
Traders show little enthusiasm for Tankard indexes of European natural gas, despite ongoing concerns about the reliability of assessments by price reporting agencies. Gillian Carr reports
Bank commodity VAR remains muted in Q4
Bank commodity value-at-risk remains muted in Q4
Energy firms scramble to avoid swap dealer label
Switching to futures and rewriting corporate websites could help reluctant energy companies avoid having to register as swap dealers under Dodd-Frank, reports Alexander Osipovich
Nordea rules out AMA
Another institution rejects AMA because of lack of clarity in requirements
Institutional investors shift portfolio allocations to hedge funds
Institutional investors are set to allocate 11% more to hedge funds this year, according to a Deutsche Bank survey. Less money is flowing to FoHFs while emerging managers are in favour.
Finex launches first Russia corporate bond ETF
Finex notches up industry first with LSE listing of ETF linked to Russian corporate debt
Ex-UBS Adoboli supervisor hired in Knight takeover
UBS-dominated management team formed as Getco prepares to take over Knight Capital