News
UNG fund secures $500million gas swap
Exchange traded fund (ETF) the United States Natural Gas Fund (UNG) entered into a natural gas total return swap for $500 million at the end of the last week, following a $250 million bilateral gas swap secured in July.
Asic takes over regulation of exchange trading
The Australian government has ended self-regulation of the Australian Securities Exchange (ASX), making the Australian Securities and Investments Commission (Asic) responsible for supervising trading on Australian stock markets from the third quarter of…
UK tax authority arrests carbon fraud suspects
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Ex-fund manager ignored compliance rules
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US Wrap: Caution on S&P 500 performance
UBS has launched a new non-directional offering on the S&P 500 which pays income regardless of whether the index moves up or down. The 18 month product pays 100% positive participation provided that the index does not go below 70% of its initial starting…
UK wrap: Meteor bursts forth with an at risk kickout plan
Meteor blazed a lone trail in a week that was dominated by the re-launch of three Royal Bank of Scotland (RBS) notes.
CDS: Spreads narrow on better-than-expected US housing data
Credit default swap 5-year mid-levels for structured products issuers (August 21)
John Hall Associates and EnergyQuote merge
UK-based energy consultancies and procurement specialists John Hall Associates and EnergyQuote have merged.
CFTC and SEC plan meetings to co-ordinate activities
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) will hold joint meetings in September to address regulatory overlaps, and streamline regulation of financial instruments.
UK banks braced for punitive liquidity rules
The UK Financial Services Authority (FSA) is pressing ahead with plans to implement strict liquidity rules from the end of this year, but banks remain highly critical of certain aspects of the new regime.
New co-heads of global foreign exchange options at BoA
Christopher Bae and Thomas Gillie will join Bank of America as managing directors and co-heads of global foreign exchange options in October.
New head of local markets trading at RBS
Jason Richardson has been promoted to head of local markets trading across all asset classes at Royal Bank of Scotland (RBS).
US Wrap: Finance and freight for mid-week
Barclays Bank has launched three new reverse convertibles covering some unusual stock themes. After the massive tumbles taken by the Baltic Dry Index last year, freight is now making a return to the structured products market in the form of a note linked…
RBS returns to market with NDFA after Keydata collapse
Royal Bank of Scotland (RBS) is launching back into the intermediary market with its new range of structured products after replacing its now insolvent administrator Keydata with NDFA.
Structured Products contributes on BBC Radio 4
Structured Products featured on BBC Radio 4's 'Face the Facts' programme today, which addressed the losses faced by UK savers who bought Lehman Brothers-backed structured products.
FDIC: crisis validates US Basel II delay and leverage ratio
The decision by the US to retain the leverage ratio has been validated by the events of the financial crisis and spared the country from an even more severe fiscal implosion, a senior Federal Deposit Insurance Corporation (FDIC) official has claimed.
SEC shortlists two measures to prevent abusive short selling
The US Securities and Exchange Commission (SEC) named its two preferred measures for preventing abusive short selling on August 17.
CFTC enhances international oversight
The Commodity Futures Trading Commission (CFTC) has revised ICE Futures Europe's permission to operate in the US as part of a wider effort to increase international regulatory co-operation.
UK tax authority arrests carbon fraud suspects
The UK's tax authority HM Revenue & Customs (HMRC) has arrested seven people on the suspicion of a £38 million VAT fraud involving the trading of carbon emissions allowances.
MF Global expands fixed-income team
New York-based derivatives broker MF Global has boosted its fixed-income teams in the US and Europe with several new hires, hoping to benefit from the increase of debt issuance in global markets.
SEC mulls new short-selling rules
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African banks co-operate on fraud risk management
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Ex-Keydata consultant opens new firm for business
Gilliat Financial Solutions, a specialist UK structured products distributor founded by ex-Keydata consultant Adrian Neave, has announced it plans to launch two new FTSE-based products in early September.
US Wrap: ABN and UBS close in on General Electric
ABN Amro and UBS have both launched reverse convertible notes linked to the stock of General Electric lasting three months. ABN's note pays an annualised coupon of 10.75%, with a conversion barrier of 80%. UBS's note pays a lower coupon of 9% but has a…