News
Interbank markets unmoved as Asian markets plummet
The collapse of stock markets in Hong Kong and Tokyo failed to shock the rest of the world today, with interbank rates remaining roughly level this morning.
FSA acts on disclosure of contracts for difference
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French banks create mobile payments network
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Increased regulation for hedge funds on the way, says FSA’s Sants
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Congress: US needs regulatory overhaul
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Ceiops announces preliminary QIS4 results
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Treasury names interim CIO for Tarp
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ING’s CFO departs after it received €10 billion from Dutch government
John Hele, chief financial officer of financial services group ING, will leave the firm following the company’s agreement on October 19 to receive a €10 billion capital injection from the Dutch government.
Rating agencies "sold their souls"
The heads of the major rating agencies faced public humiliation this week, as hearings in the US Congress blamed them for the oversights and mis-estimates behind the credit crisis.
Lake joins RBS as a UK derivatives sales head
David Lake has joined Royal Bank of Scotland as head of equity derivatives and structured products sales UK and Ireland.
Congress: US needs regulatory overhaul
At a US congressional hearing of the committee of oversight and government reform on October 23, speakers called for far-reaching regulatory reforms. These included demands for greater scrutiny of derivatives, increased capital charges on securitised…
EU nations accused of restricting free trade of renewable energy
The European Federation of Energy Traders (EFET) has supported a complaint, from an unnamed generator and a renewables trader, made to the European Commission on October 10.
ETF Securities close acquisition of Gold Bullion Securities
ETF Securities has completed the acquisition of Gold Bullion Securities’ Exchange Traded Commodities (ETC) products listed on London and Australian Stock Exchanges.
ANZ appoints Asia-Pacific CRO
Australia and New Zealand Banking Group (ANZ) have appointed Nigel Denby to the role of chief risk officer, Asia Pacific.
Ted spread moves up
The Ted spread and overnight borrowing costs were up today as the interbank lending markets began to reflect poor economic news.
DIFX to launch stock futures
Dubai International Financial Exchange (DIFX) is set to launch its first stock index futures and single-stock futures in late November as part of a series of moves to help boost liquidity on the market.
Market turmoil forces CDSs wider
Fears of recession and volatile market conditions drove up the cost of protection on banks across European in early trading today.
Goldman cuts 10% of workforce
Goldman Sachs is slashing 10% of its global workforce as recent changes to market conditions put strains on its business practice.
End of the line for CPDOs
Analysts say the demise of Constant Proportion Debt Obligations (CPDOs) now seems certain.
Semonin leaves BNP to set up hedge fund
Lionel Semonin, global head of commodity investor derivatives at BNP Paribas in London, has left the bank to set up a commodity hedge fund in Singapore.
Legal changes have borne fruit, says Russian exchange chief
Roman Goryunov, chief executive of the Russian Trading System (RTS) stock exchange, predicted a good year ahead for the Russian derivatives markets in an exclusive interview with Risk .
Fed promises $540 billion boost for money markets
In an effort to provide liquidity to US money market investors, the Federal Reserve has created a $540 billion fund, the Money Market Investor Funding Facility (MMIFF).
US Treasury changes course on Tarp CIO
The US Treasury yesterday unveiled James Lambright as interim chief investment officer for the Troubled Asset Relief Program (Tarp), after changing its original decision to appoint undersecretary Reuben Jeffery.
Ambac appoints new CEO
David Wallis has been promoted to chief executive officer of Ambac Financial Group, the holding company of monoline insurer Ambac Assurance.