News
Eurex to list Kospi 200 options
Seoul-based Korea Exchange (KRX) and Frankfurt-based derivatives exchange Eurex have struck an agreement allowing Eurex to list, trade and clear daily futures on Kospi 200 options worldwide after South Korean trading hours.
London's status as a world financial centre in doubt
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Deadline reached for AML rules in Australia
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UK government consults on regulation of Islamic finance
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Energy Risk: video interview
Energy Risk interviews European Energy Exchange CEO Hans-Bernd Menzel about the role of exchanges and clearing in Europe's energy markets.
CDS spreads on automakers widen after bail-out rejected
The cost of credit protection on US and European car manufacturers rocketed in early European trading today following the US Senate's rejection of a $14 billion rescue package for the US auto industry.
CME Group hires Katz as interest rate products head
CME Group has appointed Marcus Katz as director of interest rate products.
Tucker appointed deputy governor of Bank of England
Paul Tucker will replace John Gieve as the Bank of England's deputy governor for financial stability, starting in March 2009.
Global oil demand to slump
Global oil demand is set to fall this year and next, marking the first consecutive two-year decline in three decades, according to the Energy Information Agency (EIA).
Bank of America to lay off thousands
Bank of America plans to lay off between 30,000 and 35,000 employees over the next three years. The bank blamed the cuts on the weak economic environment and its impending merger with Merrill Lynch.
Liffe expands clearing capabilities
BClear, the clearing platform of NYSE Euronext's derivatives business, Liffe, will clear commodity swaps and options in Q1 2009.
CDSs tighten on American commercials and widen on Australia
The cost of credit protection on American commercial brands fell in early US trading today, while credit default swap (CDS) spreads referencing South East Asian sovereigns also tightened and spreads of Australian sovereign debt hit a record high.
FSA plans reverse stress tests
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FSA plans reverse stress tests
According to the Financial Services Authority, stress testing at UK financial firms is too weak to prevent another Northern Rock crisis. It recommends firms perform "reverse stress tests" to identify high-risk scenarios.
UK pensions fell further into deficit in November
UK defined-benefit pension schemes are now £136 billion in deficit as of the end of last month, significantly worse than the £97.3 billion deficit at the end of October.
Liffe to launch commodities on Bclear
Liffe, the international derivatives business of Euronext, has announced that it will launch a range of soft and agricultural commodities on its Bclear OTC derivatives platform in the first quarter of 2009.
Nomura hires chief economist in New York
Nomura Securities International (NSI) has hired Paul Sheard in the newly created position of global chief economist and head of economic research in New York.
Kashkari details Tarp oversight plans
Assistant secretary for financial stability Neel Kashkari defended the US Treasury against accusations of poor oversight of the $700 billion Troubled Assets Relief (Tarp) programme in front of the House of Representatives' financial services committee…
CDSs on European financials tighten
The cost of credit protection on financial institutions fell in early trading this morning, while a number of industrial names traded wider.
Rabobank appoints new Asia-Pacific head of GFM
Rabobank International has promoted Martijn Nijziel as Asia-Pacific head of global financial markets (GFM) in Hong Kong from his previous position in Tokyo as Japan head of GFM.
China set to provide funding to foreign banks
Chinese authorities may introduce their own version of the Federal Reserve's term auction facility (TAF) to help foreign banks get through their toughest test yet in dealing with China's still-developing interbank market.
BIS: exchange-traded derivatives volumes decline
Trading volumes at international derivatives exchanges dropped in the third quarter, according to the Bank for International Settlements (BIS).
Auction sets 52.5% recovery on Masonite LCDSs
A final settlement value of 52.5% was set for loan credit default swap (LCDS) trades referencing first-lien loans to Ontario-based door manufacturer Masonite, during a cash-settlement auction held today.
Essent Trading expands into Nordics and Asia-Pacific
Essent Trading, the Geneva-based trading arm of Dutch utility Essent, has opened representative offices in Norway and Singapore.