News
UBS reinforces FICC division
UBS has hired 17 people for its fixed-income, currency and commodities (FICC) division, which has been a main contributor to the bank's losses in recent quarters.
New COO of Asia global finance and risk solutions at BarCap
Hans Fuchs has been promoted to the newly created position of chief operating officer for Barclays Capital's Asian global finance and risk solutions group.
US legislation for OTC derivatives market published
The US Treasury has published draft legislation detailing its plans to fully regulate over-the-counter (OTC) derivatives markets and mandate central clearing for all standardised bilaterally negotiated contracts.
Schapiro wants a self-funding SEC
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IIA issues new risk management standards
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Survey shows firms in favour of tighter regulation
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US Wrap: Equity plays close the week
ABN Amro issued nine reverse convertible at the close of last week in the US market, linked to the usual equity plays. All of the new structures have maturities of three months. One of the highest coupons on offer was 18.75% annualised, linked to the…
NYSE Liffe shuts down CDS clearing service
Derivatives exchange NYSE Liffe and London-based clearing house LCH.Clearnet have shelved their central clearing service for credit default swaps (CDS), having processed no trades since it was launched in December last year.
Mustier leaves Société Générale after insider-trading investigation
Jean-Pierre Mustier, the former head of Société Générale Corporate and Investment Banking (SGCIB), has left the firm after the Autorité des Marchés Financiers (AMF) launched an investigation against him for insider trading.
Dynegy announces further losses and asset sale
Wholesale power provider Dynegy has implemented a cost-cutting scheme and plans to sell nine power projects after announcing a $345 million second quarter net loss.
Centrica given all clear for British Energy stake
UK competition regulator the Office of Fair Trading (OFT) has approved plans by Centrica to take a minority stake in EDF-owned nuclear generator British Energy. British Energy operates eight nuclear power stations in the UK.
MCX offers imported thermal coal futures contract
India's Multi Commodity Exchange's (MCX) newly-launched thermal coal futures contract traded over 5500 metric tonnes on its first day of trade on Friday 7 August.
ECB's Gonzalez-Paramo Speaks on QE
At Risk Europe 2009 in Frankfurt, an ECB board member discusses the role of central banks, when markets and monetary policy combine.
Chinese bank fraud trial begins
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GHG allowances could cost $191 by 2030
The Energy Information Administration (EIA) has predicted greenhouse gas allowances could cost $191 per metric ton by 2030 under the American Clean Energy and Security Act.
Indonesian commodities exchange to begin trading in September
Indonesia has followed Asian counterparts Singapore and Hong Kong with the launch of its own commodities exchange set to begin trading in September or October. The Indonesia Commodity & Derivative Exchange (ICDX) will initially trade palm oil and gold…
First-half loss of £1.04 billion for RBS
The Royal Bank of Scotland (RBS) posted a loss attributable to shareholders of £1.04 billion for the first half of 2009 on a pro forma basis, due to £7.5 billion in impairments charges.
Bank CDSs hit by poor results
Market sentiment towards financials has been varied in the past week as more second-quarter bank results were announced.
Momentum gathers for central trade repository
Legislators and industry participants are pushing forward with plans to create a central trade repository to hold records of over-the-counter derivatives transactions as a means of increasing transparency and reducing counterparty risk.
Lockhart steps down from FHFA
Edward DeMarco has been appointed acting director of the Federal Housing Finance Agency (FHFA) in Washington, DC, taking over from James Lockhart, who announced his resignation yesterday.
Derivatives exchange volumes still declining
Derivatives trading volumes continued to fall across several leading exchanges in July.
US Wrap: Reverse convertibles take the lead from growth products
Reverse convertibles made up just over half of new issuance in the US market yesterday, taking the lead back from the accelerated growth products which have been dominating recent activity. The notes were launched by both JP Morgan and Wells Fargo, which…
Governments must develop exit strategies, BIS warns
Governments need to plan how they will halt rescue measures introduced during the financial crisis, and ought to pull out as soon as conditions allow, according to the Bank for International Settlements (BIS).
BoE allocates extra £50 billion for asset purchases
The Bank of England (BoE) will expand its asset purchase facility, or ‘quantitative easing’, by £50 billion to £175 billion, it said today.