News
GFI EnergyMatch adds dry freight FFAs
Interdealer broker GFI Group has introduced cleared over-the-counter (OTC) dry freight Forward Freight Agreements (FFAs) on to its European trading platform EnergyMatch Europe.
Peter Bernstein dies aged 90
US economist and financial historian Peter Bernstein, a well-known promulgator of the efficient market theory, died on June 5.
CDS spreads on European financials widen
The cost of credit protection on European banks rose today, while sentiment continued to improve towards major US financials, 10 of which have committed to repay $68 billion of government loans.
US stress tests: 'serious concerns remain' warns Congress
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Isda chief addresses House on OTC derivatives
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US Wrap: RBC turns Japanese on long-term note
Royal Bank of Canada has launched a new principal protected note linked to three indexes, including the Nikkei 225 Japanese equity benchmark. The structure lasts six-and-a-half years and also links to the S&P 500 and Dow Jones Euro Stoxx, with equal…
Lobby urges Geithner to delay consolidation rules
The US Financial Accounting Standards Board (FASB) is facing resistance to its plans to force banks to account for their links to off-balance-sheet vehicles, which could require them to raise billions more in Tier I capital.
US Congress: Banks may need more stress tests
A Congressional report into the stress tests imposed by the US Treasury on leading US banks earlier this year has warned that the stress scenarios used might have been too mild, and that the tests may have to be repeated later this year.
LCH.Clearnet to clear for HKMEx
Hong Kong Mercantile Exchange (HKMEx) has recruited clearing house LCH.Clearnet to provide a clearing service for its participants, subject to regulatory approval.
CDS spreads tighten on Tarp repayment promises
Sentiment continued to improve towards US financials today as several major dealers committed to repay loans made by the US government under the Troubled Assets Relief Programme (Tarp).
EU consults on Sepa migration deadlines
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US Wrap: Gas and gold in reverse convertibles
Barclays Bank has issued a reverse convertible note offering exposure to the US Natural Gas Fund, which tracks the movements of natural gas prices. The note lasts one year and pays an annualised coupon of 20%. It will convert into stock if the fund slips…
Deloitte survey finds risk management weaknesses
Despite the credit crisis, financial institutions are still showing risk management weaknesses in areas such as stress testing and model validation, according to an annual risk management survey conducted by Deloitte.
Accumulator activity boosted by increase in implied volatility
Over HK$1 billion ($129 million) of accumulator products was traded on Wednesday June 3 in Hong Kong, the largest single-day volume for more than 18 months, say dealers.
Banks repay $68bn in Tarp funds to US Treasury
Ten of the largest US financial institutions that have received public funds under the Troubled Assets Relief Program (Tarp) scheme are to pay back $68 billion after they were approved to reimburse the funds to the federal government yesterday.
Industry opposes mandatory clearing
Compulsory central clearing is not a one-stop solution to the problems of the derivatives markets, and could end up crippling the industry, warned speakers at an industry event in London on Tuesday.
Bidders in for Ecosecurities
A takeover battle has emerged between France's EDF Trading and Dutch company Guanabara Holdings for Irish environmental project developer EcoSecurities.
Bluenext suspends trading following VAT exemption for carbon
Trading will resume on environmental exchange Bluenext on Wednesday June 10 at 8.00AM after two days of closure following the French Budget Ministry's announcement that carbon permits will be exempt from VAT.
Essent Trading CEO resigns
Paymon Aliabadi, managing director and chief executive of Essent Trading, has resigned.
US banks' CDSs tighten on permission to repay CPP funds
Market sentiment improved towards major US financials today as the Treasury granted permission to 10 of the largest financial institutions participating in its Capital Purchase Program (CPP) to repay a combined total of $68 billion.
Industry panel: avoid one-size-fits-all approach to OTC derivatives
A panel of industry experts on June 9 urged the US House Financial Services Subcommittee to steer clear of broad, one-size-fits-all regulation for over-the-counter derivatives.
Blue Sky offers autocalls with growth and income
Blue Sky Asset Management has launched growth and income auto-call plans - designed to take advantage of low interest rates.
NDFA offers six-year deposit product
NDFA, the UK provider of structured products, has launched a six-year deposit product offering the potential for 50% fixed return.
Keydata placed in administration by FSA - update
Keydata Investment Services Ltd has been placed into a speedy administration by the UK Financial Services Authority on the grounds that it is insolvent. All new business has been suspended and a temporary suspension of payments on policies has been…