News
Imarex buys Spectron
Imarex ASA, the holding company that owns Oslo-based broker / exchange Imarex and clearing house NOS, has agreed to purchase interdealer broker Spectron Group for £70 million ($138 million).
US regulators reveal plan to split monolines
Monoline insurers could be split into two separate entities under plans being considered to stave off further credit rating downgrades of the troubled municipal bond guarantors.
Credit Suisse contains credit crisis impact
Zurich-based Credit Suisse has unveiled a lower than expected Sfr1.3 billion writedown on leveraged finance, and structured debt and mortgage investments in the fourth quarter of 2007.
Monolines show no appetite for Buffett
Warren Buffett’s plan to reinsure wrapped municipal bonds has been given short shrift by monoline bond insurers.
AIG admits errors in credit loss estimates
American International Group's (AIG) writedowns on its US subprime exposure were more than triple the original estimate, it emerged yesterday.
CFTC Establishes New Energy Markets Advisory Committee
The Commodity Futures Trading Commission (CFTC) has set up an advisory committee providing a public forum to examine emerging issues related to the energy markets and the CFTC’s role in these markets under the Commodity Exchange Act.
Credit Suisse’s Abbasi moves to Asia
Credit Suisse has promoted its head of European securities structured derivative sales, Osama Abbasi, to head global securities for non-Japan Asia and Australia.
New chairman and CEO for UBS Investment Bank
Jerker Johansson has been appointed chairman and chief executive officer (CEO) of UBS’s investment bank division. He will also join the group executive board. He will be based in London and take up his new position from March 17.
BNP Paribas appoints commodity derivatives head in Asia
Frederic Hervouet has been appointed head of commodity investor derivatives for Asia at BNP Paribas, reporting to Lionel Semonin, global head of commodity investor derivatives.
HBOS agrees SAS consumer contract
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Société Générale gets a cash infusion
Société Générale (SG) is the latest of several banks to raise money through the capital markets after suffering multibillion-dollar losses. Unlike several Wall Street banks issuing mandatory convertibles, the French bank will sell stock and give current…
Prudential Fixed Income Management names chief investment officer
Prudential Fixed Income Management, an asset management business of Prudential Financial, has appointed Michael Lillard as chief investment officer (CIO), responsible for overseeing all portfolio management and trading across the firm. Additionally, the…
Credit crisis losses could reach $400 billion
Write-offs of losses on securities linked to US subprime mortgages could reach $400 billion, according to German finance minister Peer Steinbrück, speaking after the recent G-7 meeting in Tokyo.
US-China commission warns of fraud risk
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Sky Road Power Platform Launched
Software solutions provider Sky Road has launched the Sky Road Power Platform, providing access to all pricing points in the PJM Interconnection, New England, New York, and Midwest Independent System Operator (ISO) /Regional Transmission Organization …
Project Rainbow to rival European exchanges
A new trading platform - dubbed Project Rainbow - is being developed by a consortium of major derivatives trading houses to compete with Europe’s exchanges, according to a source at a large European bank.