News
Dollar low helps push crude to new record
Crude Oil reached a new record of $119.90 a barrel on the New York Mercantile Exchange (Nymex) today amid ongoing supply concerns and a new record low for the US dollar against the Euro, leaving investors looking for an inflation hedge.
New derivatives disclosures will be “significant burden”
Tougher disclosures required by the Connecticut-based Financial Accounting Standards Board (FASB) will be a “significant burden” for companies using derivatives, said Hee Lee, New York-based partner in Ernst & Young’s Financial Services Office and…
UK proposes colleges of supervisors under Solvency II
Daily news headlines
UBS report lists failures in risk management
Lack of attention, overconfidence and poor risk management procedures were at the root of UBS's subprime losses, according to a damning report released by the bank to its shareholders.
Bank of England will swap gilts for RMBS
The Bank of England will step in to improve the balance sheets of UK banks by allowing them to swap illiquid mortgage-backed securities for treasury bills.
McCreevy: How to get the best from Sepa
Daily news headlines
Crude surpasses $117 amid supply disruptions
Crude oil for May delivery hit an all time high of $117.76 per barrel in intraday trading on the New York Mercantile Exchange (Nymex) today, closing at $117.48/bbl.
BlueNext launches EUA Futures
Environmental exchange BlueNext has listed its first derivatives contracts, offering EU Allowance (EUA) futures with December 2008 to 2012 maturities.
Calyon names new Asian commodities chief
Calyon has named Mark Greenleaf its head of commodities for Asia.
Bouton steps down as SG chief executive
Daniel Bouton, chairman and chief executive of Société Générale, will step down as chief executive on May 12.
Latency and the automated technology arms race
Daily news headlines
Denial is not a strategy, says OCC chief
Daily news headlines
Crude tops $116 in volatile trading
Crude oil for May delivery hit an all time high of $116.10 per barrel in intraday trading on the New York Mercantile Exchange (Nymex) today.
MF Global reveals new safeguards
After losing $141.5 million to a single rogue trader, New York commodities broker MF Global has revealed the new internal controls intended to stop it happening again.
Evans joins Citi as subprime losses mount
Citi yesterday announced that it had hired Richard Evans as chief risk officer for its institutional clients group.
Dealers work towards clearing house for credit derivatives
A group of dealers hoping to avoid the systemic implications of counterparty risk are working with the Clearing Corporation on the establishment of a central clearing house for certain credit derivatives products.
Basel Committee to tighten up rules after crisis
The Bank of International Settlements (BIS) committee that produced the Basel II capital adequacy rules says it will adapt its rules to prevent another credit crisis.
ICBC official becomes first from China to join Isda board
A Chinese financial institution will be represented on the board of directors of the International Swaps and Derivatives Association for the first time, following the election of an executive from the Industrial and Commercial Bank of China (ICBC).
Isda AGM: Credit backlogs rise on higher volumes
Despite the efforts of dealers and intermediaries, backlogs in credit derivatives trade processing rose again in 2007, according to an Isda survey released yesterday.