News
Man Group plans hedge fund IPO
Man Group is planning to list its Man Dual Absolute Return Fund, a new closed-end hedge fund, on the New York Stock Exchange.
SSY brokers groundbreaking FFA option deal
SSY Futures has recently brokered a forward freight agreement (FFA) option transaction covering Panamax earnings out to the end of 2012. The deal, fixed between two leading FFA users, has confirmed industry claims that there is appetite for longer-dated…
Dubai to use DME for crude oil pricing
The Dubai Mercantile Exchange (DME), a joint venture between Tatweer, Nymex and the Oman Investment Fund, announced today that the government of Dubai will cease pricing its export crude oil sales off its current mechanism and instead utilise DME futures…
Eqecat launches offshore energy model
California-based risk modelling firm Eqecat has launched an offshore energy model for the Gulf of Mexico region.
Cantor to merge eSpeed and BGC
New York financial services provider Cantor Fitzgerald has announced that it will combine its electronic brokerage eSpeed, also based in New York, with its BGC Partners inter-dealer broker, to create BGC Partners Inc.
ICE and CBOE reach $665m agreement over CBOE exercise rights
IntercontinentalExchange (ICE) has reached an agreement with the Chicago Board Options Exchange (CBOE) to pay full members of the Chicago Board of Trade (CBOT) compensation for the loss of CBOE exercise rights they would experience, should CBOT merge…
Nymex considers lawsuit against Optionable
The New York Mercantile Exchange (Nymex) may take legal action against Valhalla, NY-based brokerage firm Optionable, the exchange’s chief executive officer James Newsome announced this week.
Icap Electronic Broking appoints John Nixon as CEO
Interdealer broker Icap has appointed John Nixon as chief executive of its electronic broking division (IEB).
BarCap launches buy-write ETN
Barclays Capital has created a new iPath exchange-traded note (ETN) linked to the Chicago Board Options Exchange (CBOE) S&P 500 BuyWrite Index.
Merrill Lynch reorganises leadership
Gregory Fleming and Ahmass Fakahany, the two newly appointed co-presidents of Merrill Lynch, have begun their tenures by shaking up senior management beneath them.
Markit estimates first-day volume of $11 billion on LCDX
The LCDX index of North American loan credit default swaps (LCDS) saw trades totalling over $11 billion notional during its debut on May 22, according to London-based data provider Markit.
JP Morgan establishes alternative energy group
Investment bank JP Morgan has established an alternative energy investment banking group, bolstering its efforts to capitalize on the current growth of environmentally friendly technologies.
Deutsche Bank launches dbARB
Deutsche Bank has followed in the footsteps of Merrill Lynch and Goldman Sachs with the launch of its own hedge fund replicating index, the db Absolute Return Beta index (dbARB).
Nymex considers lawsuit against Optionable
The New York Mercantile Exchange (Nymex) may take legal action against Valhalla, NY-based brokerage firm Optionable, the exchange’s chief executive officer James Newsome announced this week.