News
Hawaiian Telcom LCDS recovery set at 40.125%
A final price of 40.125% was set on cash-settled loan credit default swaps (LCDS) trades referencing Hawaiian Telcom during an auction today.
Citi rings the changes in structured products
Citi has announced a host of changes to its structured products business, including the appointment of Jean-Luc Bernardi as head of structuring for Europe, the Middle East and Asia (EMEA). Bernardi has developed and led the EMEA equity derivatives…
City insiders asked to help prevent fraud
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Final US goodwill rule issued
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Apra sets out framework for insurance supervision
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Cox admits SEC failure to detect Madoff fraud
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HKMA addresses reputational risk
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UK responds to EU financial law proposals
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Morgan Stanley falls as losses continue
Morgan Stanley's shares fell 6.8% this morning after it announced heavy losses and continuing mortgage-related writedowns.
Fed's near-zero target startles markets
Yesterday's news that the US Federal Reserve would cut its target fund rate to between zero and 0.25% rallied US stocks and sent Treasury bill yields to new lows.
Mark to market needs refining, not scrapping - SEC
Christopher Cox, chairman of the US Securities and Exchange Commission (SEC), backed fair-value accounting in a speech to the American Institute of Certified Public Accountants last week, but said some aspects, particularly rules on impairment, needed…
New York Fed buys AIG assets at half price
The Federal Reserve Bank of New York has paid $19.8 billion to troubled insurer AIG for residential mortgage backed securities (RMBS) with a face value of $39.3 billion.
€10 billion recapitalisation programme for Irish banks
Irish financial institutions are to benefit from a €10 billion stimulus plan put forward by the Irish government and private investors to recapitalise banks.
$2.1 billion loss ends 2008 on sour note for Goldman Sachs
Goldman Sachs has posted a $2.12 billion net loss for the fourth quarter - its first since going public in 1990 - citing "extraordinarily difficult operating conditions, including a sharp decline in values across virtually every asset class".
ICE Clear US to clear agricultural swaps
Intercontinental Exchange (ICE) has announced that ICE Clear US will clear sugar, coffee and cocoa swap contracts on ICE Futures US from late January 2009.
MF Global appoints new chief operating officer
Karel Harbour has been promoted to chief operating officer for New York-based derivatives broker MF Global.
CDS spreads tighten on French automakers
French auto manufacturers were trading significantly tighter in intraday trading today after the government provided credit guarantees worth €779 million ($1071.9 million) to two of the country's biggest firms.
RBS and Man admit exposure to $50 billion Madoff fraud
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Electronic OTC commodities platform launched
Agora-X has launched an electronic communications network (ECN) for the negotiation of over-the-counter (OTC) transactions in commodity and derivative contracts.
Australia to start carbon trading in 2010
Australia's carbon trading scheme will be up and running by the middle of 2010, according to a statement made by the Australian government minister for climate change and water, Penny Wong, at the Poznan climate change negotiations last week.
Interbank lending rates continue to fall
Despite continued market unrest, healthier interbank lending rates over the past week indicate financial institutions are increasingly confident in lending to one another, while the perceived level of counterparty risk, as measured by the Ted spread, has…
Eurex to list Kospi 200 options
Seoul-based Korea Exchange (KRX) and Frankfurt-based derivatives exchange Eurex have struck an agreement allowing Eurex to list, trade and clear daily futures on Kospi 200 options worldwide after South Korean trading hours.
London's status as a world financial centre in doubt
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Deadline reached for AML rules in Australia
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