News
EDF Trading and Chubu collaborate on coal
EDF Trading and Japanese utility Chubu Electric Power Company are to establish a new coal business, Chubu Energy Trading, based in Nagoya, Japan.
JP Morgan unveils new multi-commodity index
JP Morgan has launched a commodity curve index that references 33 commodities across various maturities.
FSA cracks down on CFD use
The UK Financial Services Authority (FSA) is seeking to tighten its disclosure rules on contracts for difference (CFDs), which it says could be used to "influence corporate governance".
$400 billion losses on subprime, predicts Deutsche Bank
Subprime losses could total $400 billion by the time the crisis has run its course, with large international banks and brokers taking up to a third, according to research published by Deutsche Bank yesterday.
CSI and BITS cut outsource risk
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Subprime fallout: US passes lending reforms
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Small businesses burdened by SOX costs, despite reforms
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Nymex takes 15% share in Imarex
New York Mercantile Exchange (Nymex) has agreed to acquire 15.1% of Norwegian derivatives exchange Imarex for around $52 million. Nymex will buy the shares from founding Imarex shareholder Frontline, a Bermuda-based crude oil tanker company.
JP Morgan takes Choukroun from BNP Paribas
David Choukroun has joined JP Morgan as managing director and global head of product development for flow and exotic derivatives within its equity derivatives group.
BarCap aims swap indexes at LDI market
Barclays Capital has launched indexes of nominal and inflation swaps, aimed at pension managers following liability-driven investment (LDI) strategies.
Lamfalussy enhancements proposed by the FSA and HM Treasury
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Iosco task force latest to investigate subprime crisis
The Madrid-based International Organisation of Securities Commissions (Iosco) is creating a task force to review the recent disturbance in global credit markets and decide whether the body can help prevent such problems in future.
Dresdner hit by credit crisis, but BNP sails through
Dresdner Bank, the banking arm of the German insurance group Allianz, has seen a sharp drop in income in the wake of the summer's upheavals, but BNP Paribas has been able to avoid the worst of the damage.
Wachovia declares $1.1 billion writedown for October
Wachovia has announced $1.1 billion in writedowns for the month of October, as the bank’s holdings in collateralised debt obligations (CDOs) and mortgage-backed securities (MBS) continue to lose value.
Europe’s IFRS implementation working, says report
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Hedge funds start to police themselves
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Crowded trade increases turmoil again, say CROs
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