News
CME launches petroleum swaps and minute-marker energy contracts
CME Group today announced the launch of six financially settled petroleum swap futures contracts and six new minute-marker energy contracts, which will be available from mid-June.
Risk Europe : ECB board member warns central banks against over-reaching on risk
As the European Central Bank announced a new programme to purchase up to €60 billion of euro-denominated covered bonds, ECB board member Jose Gonzalez-Paramo said central banks should not be taking on credit risk, in a keynote address at the Risk Europe…
New chief risk officer for Barclays Wealth
Mark Cooke has been appointed global chief risk officer at Barclays Wealth, the wealth management arm of Barclays Bank.
New heads of global listed derivatives for Morgan Stanley
Morgan Stanley has appointed Clark Hutchison and Bill Templer global co-heads of listed derivatives.
CDS spreads narrow on Australian banks
The cost of credit protection fell on Australian financials today, but remained steady on US and European banks.
SEC proposes pay disclosure beyond the board
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House of Lords criticises statistical models for op risk management
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US Wrap: RBC moots real estate rebound
Royal Bank of Canada has launched an accelerated growth note linking to the iShares Dow Jones US Real Estate Index. The bullish trade offers 300% participation in the index over only six months, up to a cap of 39%. It does not incorporate any downside…
NY Fed to push ahead with Talf for toxic MBS loans
The Federal Reserve Bank of New York is to push ahead with plans to open up the Term Asset-backed Securities Loan Facility (Talf) to purchasers of toxic commercial mortgage-backed securities (CMBS) and residential mortgage-backed securities (RMBS).
CFTC targets dealers, leverage and counterparty risk
Gary Gensler, the new chairman of the US Commodity Futures Trading Commission (CFTC), outlined tighter restrictions on derivatives dealers and traders in testimony to the US Senate yesterday.
US climate legislation not vital for Copenhagen talks, says Obama advisor
An advisor to President Barack Obama and director of the New America Foundation's Climate Policy Program, Terry Tamminen, has said international progress on climate change does not depend on the US passing legislation first.
CFTC discusses detail of derivatives plan
Gary Gensler, the newly appointed chairman of the Commodity Futures Trading Commission (CFTC), today explained how the Government's plan to regulate OTC derivatives should be implemented.
Pockets of growth for weather derivatives sector
While activity in the general weather risk market declined in 2008/2009, Asian and European markets showed growth, according to the Weather Risk Management Association (WRMA).
Convergence on securitisation is vital, ESF told
A prominent securitisation lawyer has criticised the lack of convergence between regulatory bodies with regard to securitisation regulation.
BIS: decline slowing on derivatives exchanges
Volumes continued to fall on international derivatives exchanges this year, but there are signs of recovery, according to the latest figures from the Bank for International Settlements (BIS), released today.
Credit Suisse strengthens Asia-Pacific equity derivatives
Credit Suisse has appointed Min Park and Ken Pang as co-heads of equity derivatives and convertibles for the Asia-Pacific region. Both men will be based in Hong Kong and report to Osama Abbasi, head of Asia-Pacific equities.
Derman: Overreliance on modelling "the biggest sin"
Modelling of collateralised debt obligations had descended into "a dark secret love of inappropriate mathematical elegance" in the months leading up to the financial crisis, according to Emanuel Derman, head of risk at US investment firm Prisma Capital…
Swedish banks' CDS spreads widen
The cost of credit protection on Swedish financials rose sharply in early European trading today, as concerns over loans made to Latvia grew.
Investec Guaranteed FTSE Plan given facelift
Investec has changed the payoff profile of its Guaranteed FTSE 100 Plans, as part of the launch of its ninth collection of structured products covering investment, accumulation and income plans. The Guaranteed three-year FTSE 100 Plan 9 has two options…
US Wrap: JP Morgan launches kickout on gold equity fund
JP Morgan has unveiled a new autocallable note linked to the Market Vectors Gold Mining ETF. The 18-month investment will pay a coupon of 5.25-6.25% if the fund is at 100% of its initial level after three months. If not, the product will continue to its…
Companies increase commodities hedging
Companies around the world are now hedging 55% of their commodity exposure as a result of increased volatility and the global financial crisis, according to a survey by Connecticut-based research consultancy Greenwich Associates.
OTC carbon volumes increase by over 80%
The London Energy Brokers' Association (LEBA) has announced that over-the-counter (OTC) carbon volumes have grown by 82% during the first five months of 2009, compared to the same period last year.
FSA official warns banks off buying securitised products
Banks will have to review their motivations for buying securitised products, a leading official at the UK Financial Services Authority (FSA) has warned.
Toxic loan PPIP purchases postponed, feared dead
The purchase of distressed whole loans using taxpayer funds under the US Treasury's Public-Private Investment Program (PPIP) has been postponed, the Federal Deposit Insurance Corporation (FDIC) has announced, raising speculation that the scheme might be…