News
Norway to sell 12.7 million EUAs in 2009
The Norwegian Ministry of Finance has announced it will sell 12.7 million EUAs this year through Barclays Capital.
CDS spreads tighten on US banks
The cost of credit protection on US financials fell in European trading today.
US to regulate OTC derivatives
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DOE announces $2.4bn in CCS funding
US Energy Secretary Steven Chu has awarded $2.4 billion from the American Recovery and Reinvestment Act to the development of carbon capture and storage (CCS) technology.
Insurer CDS spreads tighten on Tarp promise
Market sentiment improved significantly towards US insurers after the Treasury granted permission to a select number of firms to raise billions of dollars through the government's Troubled Asset Relief Programme (Tarp).
BlueNext and Markit announce new carbon index
Environmental exchange BlueNext has announced that it will form a strategic partnership with financial information provider Markit, to create a range of emission index products.
US Treasury outlines OTC regulation plan
The Obama Administration has proposed a regulatory framework for all over-the-counter (OTC) derivatives contracts.
Société Générale promotes Cassot as Joubert departs for BarCap
Société Générale Corporate and Investment Banking (SG CIB) has appointed Vincent Cassot as head of equity derivatives research, after previous head Arnaud Joubert left the bank to join Barclays Capital.
Isda's Handjinicolaou moves to Hellenic Capital Markets Commission
George Handjinicolaou, the deputy chief executive officer and regional director for Europe, the Middle East and Africa (EMEA) at the International Swaps and Derivatives Association, has joined the Hellenic Capital Markets Commission (HCMC).
CDSs on European and US banks continue to widen
The cost of credit protection on financial institutions increased today across Europe and the US. The move came after the Bank of England's quarterly inflation report showed UK GDP growth was slower than expected in the first quarter of 2009 yesterday,…
Morgan Stanley fined over $120m mismark
The UK Financial Services Authority has fined Morgan Stanley £1.4 million for failing to supervise one of its prop traders, allowing him to mismark a portfolio of illiquid credit products by $120 million last year.
Regulators and exchanges prepare for boom in carbon trading
As the Obama administration moves closer to introducing a cap-and-trade system for controlling greenhouse gases, US regulators and other players are preparing for steep growth in the emissions market.
Cebs: Bank stress-testing results to remain secret
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Basel releases guidance on wire-transfer messages
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European CDS dealers closer to restructuring solution
European derivatives dealers have agreed on a provisional framework to integrate restructuring as a credit event into the auction process for the cash settlement of credit default swaps (CDSs), taking the market a step closer to central clearing.
Icap launches iron ore broking service
Interdealer broker Icap has set up an iron ore derivatives broking service based in London.
Downturn changes oil & gas risk landscape
The oil & gas sector has been severely impacted by the global economic downturn, with new risks for the industry emerging that threaten the near-term survival and prospects of companies, according to a report from accounting firm Ernst & Young.
ERBD invest up to €5 billion in renewables stimulus
The European Bank for Reconstruction and Development (EBRD) has announced it will invest between €3-5 billion in sustainable energy projects in Eastern Europe before 2011 in an initiative to attract further co-financing of up to €10 billion.
Regulator expands energy panel to examine carbon trading
The Commodity Futures Trading Commission (CFTC) has appointed 11 members to a newly expanded panel established to prepare the government for carbon trading.
Calyon and EDF Trading form partnership
EDF Trading has formed a trading partnership with Calyon, the corporate and investment banking arm of the Crédit Agricole Group.
Geithner calls for law change to force OTC derivatives clearing
The US Treasury called upon Congress yesterday to amend the Commodities Exchange Act (CEA) to compel the "clearing of all standardised over-the-counter derivatives through regulated central counterparties".
UK inflation will stay low for some time, BoE says
UK inflation will drop below the Bank of England's (BoE) 2% target later this year and remain there "for the medium term", the central bank said in its quarterly inflation report, published today.
Auction finds General Growth Properties LCDS worth 44.25%
An auction held on May 13 determined a final settlement value of 44.25 cents on the dollar for loan-only credit default swaps (LCDSs) referencing Chicago-based shopping mall owner General Growth Properties; the company opted to restructure its debt under…
BoE inflation report pushes CDSs on European financials wider
The cost of credit protection on European financials increased this morning following the release of the Bank of England's quarterly inflation report. The report conceded UK GDP growth had been slower than expected in the first quarter of 2009, and…