News
NY Fed chief warns of credit derivatives risk
Timothy Geithner, president of the New York Federal Reserve, has warned traders of the risk of catastrophe in the credit derivatives markets.
Shakeup for BNP Paribas' London equity team
BNP Paribas has reorganised its London equity department as part of an effort it says is to increase the department's size and revenues.
National Grid to buy KeySpan for $7.3bn cash
UK utility National Grid will acquire US utility KeySpan for approximately $7.3 billion in cash to create the third-largest energy delivery company in the United States .
SEC approves NYSE merger
The US Securities and Exchange Commission (SEC) has cleared the New York Stock Exchange (NYSE) merger with Archipelago next month, opening the way for its transformation into a for-profit company.
CBOE Vix options thrive on first day
The Chicago Board Options Exchange (CBOE) has recorded a strong first day of trading for its options on its volatility index, Vix. The number of options traded were 4,328 calls and 5,095 puts, totalling 9,423 contracts by the end of the day on February…
Barclays Capital slams UK pension accounting rules
Barclays Capital has likened pension funds piling into long-dated index-linked gilts to the tech bubble of 1998 to 2000. And its top London strategist believes the fault lies with new accounting rules that force an unreasonably inflexible discount rate…
Banks need to focus on Pillars II and III says Celent
Banks may be over-emphasising the requirements for Basel II’s Pillar I, which sets the standard for risk-adjusted capital adequacy ratios, while overlooking the importance of Pillars II and III, which cover topics such as corporate governance, according…