News
Banks repay $68bn in Tarp funds to US Treasury
Ten of the largest US financial institutions that have received public funds under the Troubled Assets Relief Program (Tarp) scheme are to pay back $68 billion after they were approved to reimburse the funds to the federal government yesterday.
Industry opposes mandatory clearing
Compulsory central clearing is not a one-stop solution to the problems of the derivatives markets, and could end up crippling the industry, warned speakers at an industry event in London on Tuesday.
Bidders in for Ecosecurities
A takeover battle has emerged between France's EDF Trading and Dutch company Guanabara Holdings for Irish environmental project developer EcoSecurities.
Bluenext suspends trading following VAT exemption for carbon
Trading will resume on environmental exchange Bluenext on Wednesday June 10 at 8.00AM after two days of closure following the French Budget Ministry's announcement that carbon permits will be exempt from VAT.
Essent Trading CEO resigns
Paymon Aliabadi, managing director and chief executive of Essent Trading, has resigned.
US banks' CDSs tighten on permission to repay CPP funds
Market sentiment improved towards major US financials today as the Treasury granted permission to 10 of the largest financial institutions participating in its Capital Purchase Program (CPP) to repay a combined total of $68 billion.
Industry panel: avoid one-size-fits-all approach to OTC derivatives
A panel of industry experts on June 9 urged the US House Financial Services Subcommittee to steer clear of broad, one-size-fits-all regulation for over-the-counter derivatives.
Blue Sky offers autocalls with growth and income
Blue Sky Asset Management has launched growth and income auto-call plans - designed to take advantage of low interest rates.
NDFA offers six-year deposit product
NDFA, the UK provider of structured products, has launched a six-year deposit product offering the potential for 50% fixed return.
Keydata placed in administration by FSA - update
Keydata Investment Services Ltd has been placed into a speedy administration by the UK Financial Services Authority on the grounds that it is insolvent. All new business has been suspended and a temporary suspension of payments on policies has been…
SuperDerivatives partners with Athena
Derivatives technology provider SuperDerivatives has partnered with Canadian natural gas company Athena Energy Marketing (AEM) in an effort to increase market transparency.
E.ON to sell 300MW of hydro capacity to Verbund
E.ON has announced that it will sell more than 300 megawatts (MW) of hydroelectric capacity to Austrian utility Verbund.
Saxo Bank lowers barriers for entry with launch of commodity CFDs
Copenhagen-based investment bank Saxo Bank has launched its first contracts for difference (CFDs) for investors in commodities, which the bank says will lower barriers to trading energy, metals, soft commodities and grains.
Australian emissions trading scheme will stunt LNG growth says opposition
The Australian LNG industry has expressed concern about the effect the Rudd Government's Carbon Pollution Reduction Scheme (CPRS) will have on growth, following its proposed introduction in July 2011.
Treasury silent on Tarp as banks submit $75bn SCAP capital plans
The 10 financial institutions identified as requiring additional capital under the US Treasury's Supervisory Capital Assessment Program (SCAP) economic stress tests have submitted plans describing how they intend to raise almost $75 billion in funds to…
CDS spreads widen on US banks
The cost of credit protection rose on US financials today, but remained steady on European banks.
Merrill Lynch dealmaker now CRO at Bank of America
Gregory Curl, the lead negotiator on Bank of America's troubled acquisition of Merrill Lynch, has been appointed chief risk officer at the Charlotte-based firm.
Bank of America ousts chief risk officer
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Cooke joins Barclays Wealth
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Data corruption fastest cause of disruption for businesses
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Keydata kicks out once more
Keydata, the UK structured products distributor, has launched two structured products designed to give exposure to the FTSE 100 index. The first, the five-year Annual Kick-out Plan Issue 2, will automatically redeem on its first anniversary paying out 9%…
Walker Crips launches first growth product
Walker Crips Structured Investments (WCSI) has launched its first growth product on the retail market. The Annual Growth Plan, a non-capital protected plan, provides exposure to the FTSE-100 index. The three-year kick-out plan offers a return of 10% a…
US Wrap: Out comes Barclays again, with plethora of reverse convertibles
Barclays Bank's set of product offerings bloomed as the issuance week in the US as the week drew to a close. The UK bank produced a sequence of reverse convertibles that concentrated mainly on energy stocks, although with many other sectors represented:…
Risk Europe : Walter sets out programme for Basel II changes
In his keynote address at the Risk Europe conference in Frankfurt on June 4, Stefan Walter, secretary-general of the Basel Committee on Banking Supervision, highlighted strengthening capital requirements and the need to look at risk at a systemic level…