News
Most risk managers still expect bonuses
Despite a global recession, the crisis in the financial sector, and massive and widespread failures in risk management, a majority of UK risk managers still expect to receive a bonus this year, a survey has found.
2010 revenue proposals include 25% dealer tax hike
The US government has unveiled tax proposals that would require commodities and options dealers to pay higher tax rates, by forcing them to treat their income as ordinary income rather than capital gains.
Q&A: EC official "optimistic" on central clearing deadline
Mario Nava, head of the financial markets infrastructure unit at the European Commission in Brussels, updates Risk on progress towards central clearing of credit default swaps (CDSs) and the move towards a central trade repository for over-the-counter…
Stress-test success masks bigger problem with banks
The US government's bank stress tests appear to have been successful in stabilising financial markets, but some market observers believe they are obscuring broader systemic problems and could hamper efforts to deal with toxic assets.
Volatility returns to pre-Lehman levels
Market volatility across several sectors has dropped back to levels last seen before the collapse of Lehman Brothers in September 2008, lending weight to the belief that the financial markets are on the road to recovery.
Fed steps in to support CMBS market
The US Federal Reserve will start accepting legacy commercial mortgage-backed securities (CMBS) as collateral under its Term Asset-backed Securities Lending Facility (Talf), as the US commercial real estate market continues to struggle.
OTC trade repository plan faces hurdles
Financial authorities in the US and Europe have advocated the introduction of a central trade repository to gather data on the over-the-counter (OTC) derivatives market, but there is concern that multiple repositories could do more harm than good.
BIS shows first OTC derivatives market decline
The total outstanding notional of over-the-counter (OTC) derivatives contracts fell 13.4% to $592 trillion at the end of December 2008, from $683.7 trillion at the end of June 2008, according to statistics released by the Bank for International…
Eurex launches silver derivatives
Derivatives exchange Eurex has announced that from June 15, it will extend its commodity product offering with new silver futures and options.
Wolin returns to Treasury as deputy secretary
Neal Wolin has returned to the US Treasury as deputy secretary to work alongside secretary Timothy Geithner, after having left the department in 2001.
Gensler voted in as CFTC chairman
Gary Gensler, US President Barack Obama's choice for chairman of the Commodity Futures Trading Commission (CFTC), was confirmed by the US Senate on May 19 by 88 votes to six.
BarCap hires equity derivatives flow sales head
Timothy Last, former head of equity derivatives sales for the Asia-Pacific region at Merrill Lynch in Hong Kong, has taken on the role of head of equity derivatives flow sales for Asia excluding Japan at Barclays Capital.
CDS spreads widen on automakers
The cost of credit protection on Japanese automakers fell in European trading today, while also dropping on US and European financials.
UK Treasury Committee criticises FSA approach to bonuses
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Cesr: More market abuse guidance needed
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New FASB standards threaten off-balance-sheet vehicles
The US Financial Accounting Standards Board (FASB) has completed new rules on off-balance-sheet holdings that will compel US companies to consolidate on balance sheet billions of dollars of assets previously kept in special-purpose entities (SPEs).
CME Group to launch cleared petroleum swaps
CME Group will launch a clearing service for eight new Nymex petroleum swap futures contracts on May 31.The contracts will be cleared through CME Clearport and are expected to appeal to both US and European airline industry for hedging and to the US…
CDS spreads tighten on financials
The cost of credit protection on US financials continued to fall in European trading today, while sentiment was also positive towards European banks.
Norway to sell 12.7 million EUAs in 2009
The Norwegian Ministry of Finance has announced it will sell 12.7 million EUAs this year through Barclays Capital.
CDS spreads tighten on US banks
The cost of credit protection on US financials fell in European trading today.
US to regulate OTC derivatives
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DOE announces $2.4bn in CCS funding
US Energy Secretary Steven Chu has awarded $2.4 billion from the American Recovery and Reinvestment Act to the development of carbon capture and storage (CCS) technology.
Insurer CDS spreads tighten on Tarp promise
Market sentiment improved significantly towards US insurers after the Treasury granted permission to a select number of firms to raise billions of dollars through the government's Troubled Asset Relief Programme (Tarp).