News
New LNG reporting tool launched
A new daily gas flow and LNG vessel movement reporting service for energy traders and analysts has been launched by shipping information specialists Lloyd's Register-Fairplay and energy trading software company Innovez.
Exelon presses on with NRG acquisition
The Federal Energy Regulatory Comission (FERC) has approved Exelon Corporation's application for its proposed acquisition of NRG Energy.
ASX to launch coal futures on July 7
Australian Securities Exchange (ASX) has received regulatory clearance to launch its physically delivered thermal coal (FOB Newcastle) futures and options contracts on July 7.
CESR: Rating agencies still not following rules on structured products
The major credit rating agencies are broadly compliant with the code of conduct recommended by the International Organisation of Securities Commissions (Iosco), but are still failing to tighten the rules on structured product ratings, according to…
CDSs on UK financials widen
The cost of credit protection on major UK banks rose this morning. The move came on the back of Standard & Poor's putting UK sovereign debt on negative ratings watch last week.
Cesr produces FAQ for Transparency Directive
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Bank of England releases annual report
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Ceiops publishes feedback to governance paper
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Audit finds OTS helped banks cook their books
The US Office of Thrift Supervision (OTS), the financial regulator responsible for overseeing mortgage lenders such as Washington Mutual and IndyMac, helped several institutions break accounting rules by backdating capital contributions last year to…
Why the regional Federal Reserve banks are up in arms
A number of presidents of regional Federal Reserve banks and senior staff have recently expressed dissent from the official line taken by the US authorities in managing the banking crisis.
New RFS proposal could hurt corn demand
The Environmental Protection Agency's (EPA) latest proposed regulations for the National Renewable Fuel Standard (RFS) has cast doubt on corn's future as the primary source of ethanol in the US.
Voluntary carbon market doubles in 2008
The voluntary carbon market is maturing fast and more than doubled in size last year, according to a new study from research firms Ecosystem Marketplace and New Carbon Finance.
House energy committee passes cap-and-trade bill
The Energy and Commerce Committee of the House of Representatives approved The American Clean Energy and Security Act by a vote of 33 to 25 yesterday.
Sovereign CDS spreads widen
The cost of credit protection rose on Australasian and European sovereigns in today's European and Asian trading.
New global head of credit at UBS
Rajeev Misra has joined UBS as global head of credit.
New equity derivatives head for China at SGCIB
Gilbert Tse has replaced Sandra Lee as chief executive of global equities and derivatives solutions for China at Société Générale Corporate and Investment Bank (SGCIB).
Isda to review collateral dispute process
The derivatives industry is working towards formalising the resolution process for collateral disputes after existing resolution methods proved inadequate during the financial crisis.
PBGC deficit triples to record $33.5 billion
The US Pension Benefit Guaranty Corporation (PBGC) has posted a record deficit of $33.5 billion for the six months to March 31, tripling its previous deficit of $11 billion for the 2008 financial year.
Munich Stock Exchange to offer spot carbon trading
The Munich Stock Exchange plans to enter the carbon market with the introduction of spot trading for European Emission Allowances (EUAs) and Certified Emission Reduction units (CERs) in the summer.
EOXLive platform offers OTC nat gas swaps and swap spreads
EOX Holdings has added OTC fixed natural gas price swaps and swap spreads to its EOXLive trading platform. EOX Holdings is owned by independent interdealer broker OTC Global Holdings (OTCGH), which uses the platform.
FSA bans second Morgan Stanley trader
The UK Financial Services Authority (FSA) has banned David Redmond after he put on a large unauthorised oil futures trade while on Morgan Stanley's freight desk in London in February last year.
US municipal market faces clean-up under new rules
The municipal bond market in the US is still largely in a state of disarray, well over a year after the collapse of the auction rate securities (ARS) sector, though signs of recovery are visible in the fixed-rated debt market, congressmen have heard.
CDS spreads widen on UK
The cost of credit protection on UK sovereign debt rose in European trading today, while also rising on US and European financials.
Most risk managers still expect bonuses
Despite a global recession, the crisis in the financial sector, and massive and widespread failures in risk management, a majority of UK risk managers still expect to receive a bonus this year, a survey has found.