News
Federal Reserve extends liquidity programmes
The Federal Reserve has extended the deadline for its existing liquidity programmes by six months, to October 30, in a sign of continuing strain on financial markets.
Deutsche takes 12 from Merrill Lynch
Twelve senior bankers have left Merrill Lynch to join Deutsche Bank's institutional group, as Merrill's former CFO steps down.
Primus takes hit in Q4
Primus Guaranty, the Bermuda-based parent company of the first standalone credit derivatives product company, saw a net loss of $918.5 million in the fourth quarter of 2008. This result compares with a net loss of $403.9 million in the corresponding…
Obama ties executive pay caps to bail-out funds
President Barack Obama on Wednesday unveiled a compensation cap of $500,000 for top executives at firms receiving "exceptional assistance" from the US government.
RBS chairman departs earlier than expected
Royal Bank of Scotland's (RBS) chairman, Tom McKillop, has stepped down two months earlier than he intended.
US Wrap: Blizzard of secondary credit bolsters issuance
Counterparty risk is still high on the agenda within the US market, with half of new launches were underwritten by credit separate from the issuing institution. Barclays Bank, Goldman Sachs, and Citi all used either Eksportfinans or Swedish Export Credit…
Auction sets settlement values for LyondellBasell companies
An auction run by data vendor Markit and broker Creditex determined final settlement values for credit derivatives trades referencing three US-based subsidiaries of Netherlands-based chemical company LyondellBasell, today.
Macquarie buys Constellation’s downstream gas business
Macquarie Group has announced that it is buying Constellation Energy's Houston-based downstream natural gas trading operations for an undisclosed fee.
Derivatives to move to exchange-cleared platforms in 2009
Financial industry experts are predicting a further shift in how derivatives are traded in 2009, with exchange-traded products expected to take over from OTC derivatives, according to a survey by derivatives technology provider Sophis.
SSgA adds to European product team
State Street Global Advisors (SSgA), the Boston-based investment management arm of State Street Corporation, has announced five additions to its European product engineering team in London.
Sovereign CDSs hit record highs
The cost of credit protection on the US and New Zealand's national debt reached all-time highs in early trading this morning, while Japanese corporates faced declining market sentiment.
Merrill Lynch fined $1 million for conflicts of interest; BoA picks up the tab
Daily news headlines
Obama scorns "shameful" Wall Street bonuses
Daily news headlines
CEBS issues call for evidence on the risks for custodian banks
Daily news headlines
US Wrap: Spectrum of risk profiles offered on S&P 500
Six new issues were launched into the US market before the weekend by four issuers. The S&P 500 continues to dominate issuance, with four of the products offering exposure to the index.
DME oil benchmarks migrate to CME platform
Dubai Mercantile Exchange (DME) and Chicago Mercantile Exchange (CME) have completed the migration of three DME crude oil benchmark products onto the CME Globex platform.
CDSs widen on Japanese firms
The cost of credit protection on Japanese corporates and electronics firms widened in early European trading today.
Government guarantee schemes force covered bond market to retrench
Covered bonds, both public and private, still have a place in portfolios despite competition from the recent phenomenon of government-guaranteed bank debt