News
SocGen launches into US deposit space with Wells Fargo certificate
Société Générale (SG) has wrapped its proprietary long short strategy, Wise, into a certificate of deposit (CD) issued by Wells Fargo. The CD links to a volatility controlled version of the strategy, the SGI Wise US Vol Target 8% Excess Return Index.
US Wrap: Market gets new lease of energy
Issuance is gathering pace in the US market with 16 new launches coming into the market, two of which were energy trades. Bank of America grasped the theme with both hands, linking a highly geared growth product to the Energy Select Spdr fund.
SEC to set up specialised detection units
The US Securities and Exchange Commission (SEC) will set up five specialised units to detect financial criminals more efficiently, following criticisms its examiners are not equipped to deal with complex financial cases.
CME Group to offer Malaysian crude palm oil contract
Malaysian commodities exchange Bursa Malaysia is to partner with global futures exchange CME Group on trade matching services, product licensing and minor cross-equity investments.
Sugar High
Sugar prices have been trading at the highest levels for 28 years this week with ICE Futures US October raw sugar, the global benchmark, closing almost 6% higher at 22 cents/lb and refined white sugar trading on London's Liffe at US$543 per ton.
Draft derivatives bill sent to Congress
The US Treasury submitted legislation to Congress today outlining its regulatory reform agenda for the over-the-counter (OTC) derivatives market.
Twitter interview with Trayport
Followers of Energy Risk on social networking site Twitter joined Elliott Piggott, managing director of trading software provider Trayport for an online interview. The full list of questions and answers is below.
UBS reinforces FICC division
UBS has hired 17 people for its fixed-income, currency and commodities (FICC) division, which has been a main contributor to the bank's losses in recent quarters.
New COO of Asia global finance and risk solutions at BarCap
Hans Fuchs has been promoted to the newly created position of chief operating officer for Barclays Capital's Asian global finance and risk solutions group.
US legislation for OTC derivatives market published
The US Treasury has published draft legislation detailing its plans to fully regulate over-the-counter (OTC) derivatives markets and mandate central clearing for all standardised bilaterally negotiated contracts.
Schapiro wants a self-funding SEC
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IIA issues new risk management standards
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Survey shows firms in favour of tighter regulation
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US Wrap: Equity plays close the week
ABN Amro issued nine reverse convertible at the close of last week in the US market, linked to the usual equity plays. All of the new structures have maturities of three months. One of the highest coupons on offer was 18.75% annualised, linked to the…
NYSE Liffe shuts down CDS clearing service
Derivatives exchange NYSE Liffe and London-based clearing house LCH.Clearnet have shelved their central clearing service for credit default swaps (CDS), having processed no trades since it was launched in December last year.
Mustier leaves Société Générale after insider-trading investigation
Jean-Pierre Mustier, the former head of Société Générale Corporate and Investment Banking (SGCIB), has left the firm after the Autorité des Marchés Financiers (AMF) launched an investigation against him for insider trading.
Dynegy announces further losses and asset sale
Wholesale power provider Dynegy has implemented a cost-cutting scheme and plans to sell nine power projects after announcing a $345 million second quarter net loss.
Centrica given all clear for British Energy stake
UK competition regulator the Office of Fair Trading (OFT) has approved plans by Centrica to take a minority stake in EDF-owned nuclear generator British Energy. British Energy operates eight nuclear power stations in the UK.
MCX offers imported thermal coal futures contract
India's Multi Commodity Exchange's (MCX) newly-launched thermal coal futures contract traded over 5500 metric tonnes on its first day of trade on Friday 7 August.
ECB's Gonzalez-Paramo Speaks on QE
At Risk Europe 2009 in Frankfurt, an ECB board member discusses the role of central banks, when markets and monetary policy combine.
Chinese bank fraud trial begins
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GHG allowances could cost $191 by 2030
The Energy Information Administration (EIA) has predicted greenhouse gas allowances could cost $191 per metric ton by 2030 under the American Clean Energy and Security Act.
Indonesian commodities exchange to begin trading in September
Indonesia has followed Asian counterparts Singapore and Hong Kong with the launch of its own commodities exchange set to begin trading in September or October. The Indonesia Commodity & Derivative Exchange (ICDX) will initially trade palm oil and gold…
First-half loss of £1.04 billion for RBS
The Royal Bank of Scotland (RBS) posted a loss attributable to shareholders of £1.04 billion for the first half of 2009 on a pro forma basis, due to £7.5 billion in impairments charges.