News
Bowater worth 15%, according to credit derivatives auction
An auction held on May 12 determined a final settlement value of 15% for credit default swaps (CDSs) referencing North American newsprint manufacturer Bowater, which filed for Chapter 11 bankruptcy on April 16.
UK Treasury: "vital" to expand resolution powers for investment banks
The UK government needs to update its approach to resolving failed investment banks in the wake of the collapse of Lehman Brothers in September last year, according to a Treasury report published today.
CDSs on US banks widen
The cost of credit protection on US banks increased this morning, having fallen - in some cases by as much as 50 basis points - on Friday after the announcement of the US government's stress-test results last week.
Ten US banks fail Geithner's stress tests
Daily news headlines
London roadmap fails to address key points
Daily news headlines
FSA wants more effective risk governance
Daily news headlines
FDIC's Bair calls for the creation of a Systemic Risk Council
Daily news headlines
LCH.Clearnet to clear iron ore swaps
London based clearing house LCH.Clearnet has announced that it will clear over the counter (OTC) iron ore swap contracts before the end of May.
Rubber volumes fail to improve despite Tocom's extra trading hours
Rubber trading volumes have failed to be boosted by a revamped trading system launched this week on the Tokyo Commodity Exchange (Tocom).
Platts price assessment proposals face scrutiny
Questions have been raised in the energy trading sector about Platts' decision to align its US fixed price and differential crude oil and products assessments at 3.15pm eastern time (ET).
Shale gas production could reduce Europe's dependence on Russia
Rising shale gas production in the US and Canada as well as potential natural gas supplies from Iraq could reduce European energy dependence on Russia, according to a new study released today by Rice University's Baker Institute for Public Policy.
Dow Jones-AIG Commodity renamed through UBS acquisition
UBS has announced that Dow Jones-AIG Commodity Indexes have been renamed Dow Jones-UBS Commodity Indexes following the completion of its acquisition of the commodity index business of AIG Financial Products.
Stress test results boost CDSs on financials
In early US trading on Friday, the cost of credit protection on financial institutions fell markedly following yesterday's publication of stress test results by the US government. In contrast to earlier pessimistic predictions - some of which had…
AIG trims loss in Q1
Insurance giant AIG reported a net loss in the first quarter of 2009 of $4.35 billion. While undoubtedly a poor result, it at least marked something of an improvement from its fourth-quarter 2008 result when it reported a loss of $61.7 billion - the…
Primus explores new CDPC model
Primus Guaranty, the Bermuda-based credit derivatives product company (CDPC) and asset manager, is looking into the possibility of setting up a new entity to sell credit protection, but unlike its existing business model, the new venture would post…
Uncertainty remains over EU securitisation retention charge
The European Union (EU) is pressing ahead with plans to amend the Capital Requirements Directive (CRD), but has failed to reach consensus on its controversial plan for a 5% securitisation retention charge.
US banks require $74.6 billion in additional capital, stress tests reveal
Ten US banks collectively require an additional $74.6 billion in additional capital to insulate against possible losses over the next two years, the results of US government stress tests show.
Stephen Friedman relinquishes post at New York Fed
Stephen Friedman, chairman of the board of directors at the Federal Reserve Bank of New York, resigned his post on May 7, following controversy over his decision to remain on the board of directors at Goldman Sachs.
OTC Global Holdings announces new crude options brokerage
New York based interdealer broker, OTC Global Holdings (OTCGH), has launched a new crude options brokerage called Riviera Commodities.
Central banks continue to expand support in face of deflation threat
The Bank of England and the European Central Bank both announced expansions to their monetary stimulus programmes today, warning that low inflation or deflation remained a threat.
SEC roundtable: circuit breakers most favoured short-selling rule
Participants favoured circuit breakers, which halt trading in volatile markets, over other proposed short-selling restrictions discussed at the US Securities and Exchange Commission's (SEC) roundtable on May 5.
CDSs on financials tighten on positive results
The cost of credit protection on European banks fell this morning ahead of the US government releasing the results of its stress tests on 19 US banks, helped by positive interim reports from UK banks.
SEC investigates first insider trading CDS case
Daily news headlines
First insider-trading case for CDS market
On May 5, the US Securities and Exchange Commission (SEC) filed the first civil action for insider trading involving credit default swaps (CDS).