News
Second credit-event auction to be held on LCDS
London-based data provider Markit has announced it will hold a credit-event auction on Ontario-based door manufacturer Masonite International, to settle loan credit default swap (LCDS) trades referencing the company.
Ambac to commute $3.5 billion in CDO exposure
Ambac Financial announced on Wednesday that it has arranged a deal with counterparties to close out exposure to four collateralised debt obligations (CDOs) with a cash settlement of $1 billion.
Libor untouched by market turbulence
Interbank confidence has shown no signs of falling today even as global equity markets have plummeted.
US CDS spreads soar, eurozone banks trade wider
The cost of credit protection on US financial institutions rocketed yesterday, while UK and European banks experienced declining market sentiment in early trading today.
CME hires O'Connell as clearing head
CME Group has appointed Michael O'Connell as managing director of its clearing business development, a newly-created role, to help develop the exchange's clearing activities.
Wellink: Banking should be 'shock absorber' for financial system
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G-20 principles spell increased financial regulation
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Ceiops hails Solvency II QIS4 success
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Isda issues Masonite CDS auction terms
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Executive pay reviewed at Barclays, UBS and Goldman
Barclays, UBS and Goldman Sachs have announced moves to halt bonus payouts for top executives in 2008, as huge subprime losses and writedowns have placed compensation policies under increased scrutiny.
TradeCapture expands to Rome office
Energy trading and risk management provider TradeCapture has announced the opening of an office in Rome with Pete Carlile appointed as general manager for Europe.
EUA allowance auction goes live today
Four million European Union Emission allowances (EUAs) will be up for sale today marking a turning point in EU Emissions Trading Scheme history.
Forex specialists predict consolidation
Foreign exchange markets will experience further consolidation in 2009, while larger banks will continue to dominate algorithmic trading, according to a panel of industry experts speaking at the FX Week Europe conference in London yesterday.
Forex experts: no need for central clearing house
The foreign exchange markets are unlikely to follow the credit default swaps (CDS) market by establishing central counterparties in the near future.
Interbank confidence continues to rise
The perceived level of counterparty risk in the market continued to fall today, shown by a drop in the Ted spread and Libor.
Eurozone and US bank CDS spreads widen
UK and European financial institutions faced declining market sentiment in early trading today, while the cost of credit protection on US banks continued to rise.
Korean banks to share info on FX derivatives
South Korea's markets regulator, in conjunction with the country's leading banking association, has set up a database that allows banks to share information on the use of financial products by their clients, including exporters.
FX volumes 'set to drop in 2009'
Volumes traded in the foreign exchange markets are likely to drop next year as hedge funds and sovereign wealth funds reduce their activities, Paul Fisher, the Bank of England's head of foreign exchange and reserves management, predicted today.
HSBC terminates swaps in Lehman Bros minibonds
The Monetary Authority of Singapore (MAS) says HSBC Institutional Trust Services, the trustee of Lehman Brothers' defaulted minibond notes programme, has terminated the swaps that back series 1 to 8 of the programme, to remove the risk of credit events…
UK CDSs still wide
UK and European financial institutions continued to face mixed market sentiment in early trading today, while the cost of credit protection on US banks began to rise.
Dollar Libor falls further
Interbank lending confidence rose today, marked by a 0.17 percentage point fall in three-month dollar Libor.
Rabobank appoints renewables and carbon credit head in Asia
Rabobank International has promoted Jotdeep Singh to a newly created role as head of its renewable energy and carbon credits business in Asia. Based in Singapore, he will oversee transactions mainly in wind energy, biomass, solar and other renewables,…
CDS clearing house to miss November 30 deadline
The November 30 target for central clearing of index credit default swap (CDS) trades set by a consortium of industry associations and investment banks is unlikely to be met, sources within the Federal Reserve Bank of New York have said.