News
LME to add new ferrous contracts and expand OTC clearing
The London Metals Exchange (LME) plans to launch futures in ferrous metals and offer over-the-counter (OTC) clearing this year, as part of a plan to attract new business.
Shanghai interbank rate launched
The Shanghai interbank offered rate (Shibor) was launched today (January 4) to establish a benchmark interest rate system for China’s money market.
Allegheny Power proposes Maryland plan
Allegheny Power, the electric delivery subsidiary of investor-owned utility Allegheny Energy, has proposed a rate stabilisation and transition plan for its Maryland residential customers.
OCC separates its risk management function
Michael Walinskas has assumed the role of senior vice-president responsible for risk management at the Options Clearing Corporation (OCC). His duties were previously covered by Andrew Naughton, formerly the chief financial officer of the Chicago-based…
OneChicago names new CEO
Chicago-based futures exchange OneChicago has named David Downey as its new chief executive.
Nybot CEO dies
Harry Falk, president and chief executive of the New York Board of Trade, died yesterday aged 66.
Optionable adds new listings
Energy brokerage Optionable is now listing contracts for crude oil, heating oil and gasoline through its Opex trading platform.
Same underlying names dominate CDS trading in December, says GFI
Credit default swaps (CDS) offering protection against debt issued by US auto companies, European telecoms and Asian financial services institutions were again the most actively traded credit derivatives in December.
Calyon launches fund-convertible bond
Calyon has issued €50 million of a new convertible bond based on shares in an equity fund, the first of its kind.
Nybot launches FX futures to support coffee traders
The New York Board of Trade (Nybot) will launch futures in the Colombian peso and Brazilian real next month.
BNP recruits Nittenberg to structured credit
Ronald Nittenberg has joined BNP Paribas' London-based structured credit group.
Creditex offshoot launches credit derivatives portfolio trading system
Q-Wixx aims to cut the time it takes to trade large portfolios of credit derivatives; Cairn Capital and four dealers test drive system due for launch in January