News
AIG forex prime brokerage bought by BNP Paribas
The US foreign exchange prime brokerage business of AIG Financial Products (AIG FP) has been transferred to BNP Paribas, along with eight staff.
FSA extends short-selling disclosure requirement again
The UK Financial Services Authority (FSA) has extended its disclosure requirement for the short selling of 30 UK financial stocks.
FSA extends UK short-selling disclosure regime
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UK regulator bans compliance director
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FSA issues Retail Distribution Review consultation paper
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US Wrap: Accelerated growth products dominate, and choose tech
The range of new accelerated growth products launched yesterday included exposure to emerging markets, international equity and technology stocks alongside the usual US equity plays. Bank of America (BoA) launched a growth structure linked to the…
Morgan Stanley feeds hunger for Gilt-backed products
Morgan Stanley has launched a new UK government bond backed plan and re-issued three other plans, one of which is the third in a series of Gilt-backed issues, designed to mitigate counterparty risk.
'Improvement in market conditions' sees Fed cut bank aid
The US Federal Reserve Board has cut back several of the support facilities put in place over the past 18 months, arguing the recovery of the financial markets has made them unnecessary.
LCH.Clearnet to launch spot carbon clearing in July
London-based clearing house LCH.Clearnet's over-the-counter (OTC) clearing service for the UK spot market for carbon credits will launch on July 3 this year.
CDS spreads unmoved on financials
The cost of credit protection on major European and US financials was almost unchanged from yesterday in today's European and Asian trading.
Bank of England calls for "credible threat of closure"
In its latest Financial Stability Report, released today, the Bank of England has emphasised the need for banks to face "a credible threat of closure", and recommended higher capital and liquidity reserves.
Iosco recommends compulsory registration of hedge funds
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Indian banks ramp up AML investment
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Isda CEO addresses US Senate banking subcommittee
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SEC to tighten rules on money market funds
Money market funds, the retail investment funds which exacerbated the effects of the financial crisis in September last year, are to come under far stricter oversight, under draft rules announced by the US Securities and Exchange Commission on June 24.
New Austrian natural gas exchange to clear through ECC
European Commodity Clearing (ECC) is to offer clearing services for a new natural gas exchange at Austria's Central European Gas Hub (CEGH), hosted by Vienna Stock Exchange.
Next generation solar power could replace fossil fuels says WRI
Concentrating solar thermal (CST) power has the potential to provide power on the margin of the demand curve, as well as replacing coal at the core of the power mix in the US, according to a report by the World Resources Institute (WRI.)
New chairman for BP
BP has announced that Carl-Henric Svanberg, the current chief executive officer of the Swedish telecommunications company Ericsson, will replace Peter Sutherland as the firm's chairman.
CDS spreads move on automakers
Market sentiment was varied towards car makers in European and Asian trading today, while staying unchanged from yesterday on major financials.
Rise in inflation coming as rates remain low, BarCap predicts
Inflation is set to rise in late 2009 and 2010, driven by rising commodity prices and low central bank rates, according to research from Barclays Capital, released on June 25.
US Wrap: Single note offers exposure to international equity
Another single note was released into the US market yesterday, continuing the slow pace of issuance for the week. The product was issued by Bank of America and gives exposure to the MSCI Eafe Index, which tracks the performance of international equity.
Risk Derivatives Summit : balance sheet reform is essential
Runaway credit growth was at the root of the crisis, and regulatory reform must start by clamping down on it, John Greenwood, chief economist at Invesco in London, told the Risk Derivatives Summit audience yesterday.
Risk Derivatives Summit : Transparency not a cure-all
Moves to increase transparency and simplicity in the derivatives market might have some benefit, but are certainly not the single remedy needed after the financial crisis, according to panellists at the Risk Derivatives Summit in London yesterday.