News
2008 worst year for hedge funds since records began
2008 was the worst year for hedge fund performance since data onalternative investment pools began to be tracked, with average returns of -17.08% across asset classes for the past year, a new report has revealed.
Eurex to launch commodity index futures in March
Eurex will be the first European exchange to offer trading in commodity index derivatives with the launch of four new contracts on March 30.
Deutsche Bank joins DME as clearing member
The Dubai Mercantile Exchange's membership committee has today approved Deutsche Bank as the 22nd clearing member of the exchange.
BarCap executes RGGI forward trade agreement
Barclays Capital today executed its first transactions on a forward trade agreement that includes provisions for US emissions allowances associated with the Regional Greenhouse Gas Initiative (RGGI), the first mandatory carbon cap-and-trade program in…
CFTC acts to shut out grain futures speculators
The US Commodity Futures Trading Commission (CFTC) has approved new rules designed to reduce distortions in the soft commodity futures markets caused by speculative activity.
Icap clears first ag swap through ICE
Interdealer broker Icap has executed the first ever cleared agricultural swap transaction through IntercontinentalExchange clearing house ICE Clear US. Regulatory approval for such transactions was granted by the CFTC in December last year.
Exposure to eastern Europe hurts German bank CDSs
The cost of credit protection on many European banks has risen on concern over their exposure to deteriorating economic conditions in eastern Europe.
Toronto trader charged over $21m market manipulation
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LCH.Clearnet to expand CDS clearing into eurozone
LCH.Clearnet plans to clear credit default swaps (CDS) in the eurozone by the end of the year, having already launched a CDS clearing service in the UK.
BoE stability chief calls for stress war games
Banks could be forced to carry out joint stress tests to model the knock-on effects of a single disturbance on the entire financial system, according to the Bank of England's head of financial market stability, Andrew Haldane.
DNV suspension lifted
A major player in the Clean Development Mechanism (CDM) markets has been allowed to resume validating projects, the United Nations (UN) CDM Executive Board (EB) has announced.
CFTC acts to shut out grain futures speculators
The US Commodity Futures Trading Commission (CFTC) has approved new rules designed to reduce distortions in the soft commodity futures markets caused by speculative activity.
CDSs widen on UK banks
Credit derivatives referencing UK banks continued to widen this morning, following a week in which Lloyds TSB announced it will absorb a £10 billion loss due to its merger with HBOS.
AIG fraud under investigation in the UK
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GFX Capital fund manager arrested for £40 million fraud
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CME launches electricity futures contracts
CME Group has announced 34 new PJM, ISO electricity swap futures contracts will begin trading on the exchange from 22 February for trade date of 23 February 2009.
CDS spreads widen on Ireland
The cost of credit protection on Irish sovereign debt rose to record levels in early trading today.
SEC parts ways with enforcer Thomsen
Linda Thomsen, enforcement director for the US Securities and Exchange Commision (SEC), is to step down after a 14-year stint at the regulator. Her departure follows widespread criticism of the SEC in the wake of the Bernard Madoff scandal.
FSA deputy chairman resigns over HBOS risk whistleblower
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Italian banks join op risk loss data sharing platform
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US Wrap: Leverage trades both ways for S&P 500 bulls
S&P remains the dominant theme, as the underlying for yesterday's seven new issues as well as all new deals launched since Tuesday. The mood is still overtly bullish on recovery, with every new launch featuring either upside or downside gearing, although…
US and European firms in bid for LCH
A consortium of major US and European financial institutions is lining up a bid for London-based derivatives clearing house LCH.Clearnet. Deutsche Bank is acting as adviser on the acquisition, as well as being part of the bidding group.
Asian airlines struggle with volatile oil prices
A major contributor to the large fuel-hedging losses suffered by Chinese and Taiwanese airlines for 2008 were collar strategies - the purchase of call options and simultaneous sale of put options. But some Asian carriers, such as Malaysia's Air Asia and…
Aviation industry calls for inclusion in Copenhagen deal
Four of the world's leading airlines have today called for carbon dioxide emissions from international aviation to be included in any new global climate change deal agreed at the UN's Copenhagen Summit in December.