News
EC looks to move standardised OTC derivatives onto exchanges
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UK chancellor warns bankers off a return to excess
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Austrac censures two banks over breaches of AML law
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Suspected oil rogue trader costs company £6 million
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US Wrap: Lively market focuses on energy and financials
The US market was showing convincing signs of life yesterday, with an impressive spread of 28 products launched by eight providers. The days of heaviest issuance have been dominated by reverse convertibles, but the structure only made up half of…
UK Wrap: Emerging Markets and bonds appear as underlyings
MSS has launched its first structured product in the UK market, offering a 100% capital protection. The six-year investment gives 100% participation in an equally-weighted basket consisting of four underlyings - subject to a maximum return of 45% growth.
Updated: Investec shares the wealth with income increase
Investec will increase the return on its five-year Capital Guaranteed FTSE 100 Income Plan 2 by 40 basis points due to changing market conditions.
EC looks to move standardised OTC derivatives onto exchanges
The European Commission (EC) today served notice of its intention to push standardised over-the-counter derivatives onto regulated exchanges, in a move that could prove unpopular among dealers.
Rogue PVM oil deals not behind price spike say traders
Unauthorised trading in Brent futures contracts on June 30 by a staff member at oil broker PVM was not the main cause of a spike in oil prices, according to traders.
Negative repos distort dividend hedging strategies
Abnormally low repurchase rates are forcing banks to hedge their dividend exposures with swaps instead of forwards.
Credit starts to flow, but more defaults ahead
Although credit availability has improved and lending costs have dropped in the UK, the rise in defaults is set to continue, according to the Bank of England's latest survey of the lending markets.
FSA announces final stage of internal operational reform
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SEC approves executive pay disclosure rules
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Japan considers crackdown on AML and data protection
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Basel implementation chief: no need for Basel III
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Barclays launches latest guaranteed deposit accounts
Barclays Capital, the investment bank division of Barclays Bank, has launched two more deposit accounts, as part of its structured deposit series for offshore bonds. The three-year guaranteed digital deposit account and the five-year guaranteed FTSE 100…
US Wrap: BofA looks to China for growth prospects
Bank of America has launched an accelerated growth note linked to the FTSE/Xinhua China 25 Index. The note lasts two years and pays 200% participation in the index up to a cap of 158.6%. It also incorporates a downside buffer of 10%.
Finra scrutinises muni-bond market; US Treasury creates Consumer Financial Protection Agency
The US Financial Industry Regulatory Authority (Finra) has launched an investigation into financial institutions' underwriting derivatives contracts used by US municipals to finance debt at lower costs.
Difference of opinion emerges on CDS fixed coupons in Europe
European credit derivatives traders remain divided on the number of fixed coupons that should be used for the trading of credit default swaps (CDS), just two weeks after the market was supposed to have switched to using only four standardised coupons.
CMBS re-Remics could make Talf obsolete
A wave of downgrades to highly rated commercial mortgage-backed securities (CMBS) is threatening plans by the US Federal Reserve to rehabilitate the market for existing deals. But a recent trend towards restructuring the transactions could render the…
FCStone announces merger deal
International Assets Holding Corporation and FCStone Group have signed a definitive agreement to merge in a share swap, creating a combined company with a market capitalization of approximately $260 million.
Exelon increases NRG offer
Exelon Corporation has increased its offer to acquire all of the outstanding NRG common stock by 12.4%.
Alpiq strengthens presence in Romania
Aare-Tessin, the electricity subsidiary of Swiss energy trading company Alpiq Holding, has acquired Romanian energy provider EHOL Distribution for an undisclosed fee.