News
ODL brokers record gas oil options deal
ODL Securities brokered the largest ever deal in exchange-traded gas oil options in September.
Northern Rock chairman resigns
Matt Ridley, chairman of the troubled UK mortgage lender Northern Rock, has resigned.
Isda opens Hong Kong office
The International Swaps and Derivatives Association is opening a regional office in Hong Kong as part of an expansion of its activities in Asia.
SG appoints new hedge fund head
David Escoffier has replaced Dan Fields as head of Société Générale's hedge fund group.
IKB concealed subprime risk from board, auditor says
Management at troubled German bank IKB did not disclose the bank's €1.6 billion exposure to US subprime loans to the IKB board, says a special report by PricewaterhouseCoopers.
US cannot cope with power demand: Nerc
Electricity usage in the United States is projected to grow more than twice as fast as capacity growth over the next 10 years, the North American Electric Reliability Corporation (NERC) has warned in its 2007 Long-Term Reliability Assessment.
Mizuho launches alternative investment group
Mizuho International, the London-based international securities arm of Mizuho Financial Group, has launched a new alternative investment group (AIG).
Nomura to offer catastrophe risk hedging
Nomura Securities will provide its Japanese clients with risk hedging to transfer catastrophe-related risk to the capital markets via derivatives and catastrophe bonds.
E.ON takes majority stake in Russia’s OGK-4
German utility E.ON has acquired a 69% stake in Russian power plant company OGK-4 for €4 billion. OGK-4 is one of six large-scale power plant operators in Russia being privatised by the state-run holding company RAO UES
Aleri and OILspace enter partnership
Aleri, a provider of complex event processing (CEP) technology, and OILspace, a provider of real-time energy management applications, have entered into a partnership to offer their combined services to customers.
JPMorgan TSS selected as ICE Clear Europe consolidation bank
IntercontinentalExchange (ICE) has appointed JPMorgan Treasury & Securities Services (JPMorgan TSS) as consolidation bank for its European clearing house, ICE Clear Europe.
Crude hits all time high of $88, more upside seen
Oil price risk remains to the upside after it shot through $88 a barrel Tuesday on declining US stocks and growing geopolitical tensions in the Middle East, analysts say.
Lloyds TSB appoints head of FX derivatives trading
Lloyds TSB has appointed Anders Henrikson as head of foreign exchange derivatives trading in London.
Dresdner derivatives head steps down
Marc Michallet, the London-based head of the financial solutions group for Europe at Dresdner Kleinwort, has left the bank.
Credit crisis hits Citigroup harder than expected
US banking giant Citigroup has suffered worse losses from the recent credit crisis than predicted. Chief executive Charles Prince admitted the poor performance was "frankly surprising".