News
Gap trade interest could salvage dealer risk recycling channel
Renewed interest in gap risk trades might resurrect the defunct trading channel previously used by structured products issuers as a means to recycle unwanted gap risk, say dealers.
TSE targets Japanese banks for CCP
The Tokyo Stock Exchange (TSE) is courting domestic financial institutions to become clearing members of its proposed central counterparty (CCP), which it is developing alongside its 86.3%-owned clearing arm, Japan Securities Clearing Corp (JSCC).
Basel Committee releases Basel II capital enhancements
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Investec opens latest suite of products to investors
Investec is offering a new set of capital protected FTSE-based plans covering growth and income products, as part of its 10 th collection.
UK Wrap: Risk appetite returns in new plan launches
Risk appetite returned to the UK last week with the launch of a slew of 'at risk' plans. Leading the pack was a asset manager Jubilee, with its Optimised Growth Plan 1, which also gives accelerated growth.
TriOptima sees surge in interest rate swap tear-ups
Stockholm-based technology company TriOptima has eliminated $13.9 trillion in notional outstanding from the interest rate swaps market in the first half of 2009, more than the $13.6 trillion total eliminated in 2008.
Trayport links cleared OTC energy trades to LCH.Clearnet
Trading software provider Trayport has announced that it will now offer automated clearing for energy OTC trades on LCH.Clearnet.
Nabucco pipeline construction deal agreed
Five transit countries have signed an agreement to construct the €8 billion, 3300 km Nabucco natural gas pipeline.
Amerex launches consulting service
Amerex Brokers, an over-the-counter energy broker and wholly-owned subsidiary of GFI Group, has formed a fee-based energy risk management and execution consulting division called Amerex Energy Consulting Services (AECS).
Plastics ring dealing to cease at the LME
The London Metal Exchange (LME) has announced proposals to cease open-outcry trading of its plastics futures contracts, with trade continuing on the LME's electronic and telephone markets.
Quant Congress: Don't confuse models with reality, says Derman
Models were not responsible for the financial crisis, but those using them need to remember the shortcomings of models in general, asserted Emanuel Derman, head of risk at Prisma Capital Management and professor at Columbia University, at Risk 's Quant…
Central clearing will need new laws, Isda report finds
New laws will be needed in the US and Europe to support the introduction of central clearing of credit default swap (CDS) trades, according to a study published yesterday by the International Swaps and Derivatives Association.
French and German banks to launch Sepa rival to Visa and MasterCard
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Warnings issued over Man-in-the-Phone fraud attacks
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New Zealand Reserve Bank issues non-banking risk management standards
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Mifid briefings aim to ensure enforcement
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SEC inspections head resigns
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US Wrap: Wells Fargo makes surprise return to reverse convertibles
Wells Fargo has launched four new reverse convertibles in the US, packaged with the external credit of Eksportfinans. The bank used to be one of few institutions that held a triple-A rating, which has now been downgraded to Double A.
Cesr joins calls for more derivatives trade reporting
The Committee of European Securities Regulators (Cesr) called this morning for post-trade reporting on several classes of derivatives, including asset-backed securities (ABS) and collateralised debt obligations (CDO).
High correlations spur interest in CCDS
Interest in using contingent credit default swaps (CCDS) as a speculative tool is being fuelled by high levels of cross-asset class correlations, according to some market participants.
Morgan Stanley CDO repack designed to test investor appetite
Morgan Stanley's offering of a repackaged cash collateralised debt obligation (CDO) is designed to test market appetite for this type of risk, said a source familiar with the deal.