News
European CDSs continue to climb
The cost of credit protection on European banks increased in early trading today, while market sentiment towards US financial institutions remained favourable.
Fannie Mae and AIG pummelled in Q3
This week, both Fannie Mae and AIG reported steep losses in the third quarter of this year.
UK sets up financial industry think-tanks
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Misys launches proactive risk monitoring system
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Vattenfall to build offshore wind farm in UK, joins forces with ScottishPower
Swedish power company Vattenfall has acquired UK wind farm Thanet Offshore Wind and has joined forces with ScottishPower for Crown Estate’s Round Three of tender bids to develop offshore wind power in the UK.
Trading goes live at South Pool
Trading at the South Pool regional energy exchange, a joint-venture between Slovenian power market operator Borzen and Eurex, began today.
EC derivatives working group meets to overhaul OTC markets
The European Commission’s working group on derivatives, established on October 22, held its first meeting in Brussels last week.
HSBC Q3 profits up on Q3 2007
HSBC's third-quarter profits rose this year, despite a $271 million loss on its US operations and a total of $7.9 billion in writedowns.
UK CDSs rise
The cost of credit protection on European banks widened today while market sentiment towards US financial institutions improved.
Lukken calls for regulatory overhaul as he prepares to step down
Walter Lukken, acting chairman of the US Commodity Futures Trading Commission, today called for new oversight arrangements and defended the independence of the CFTC, in one of his last speeches before he leaves his post in January.
Markets indifferent to Amex conversion as auto-maker bail-out looms
Credit spreads on American Express debt narrowed marginally yesterday while equity prices hit a new low as US markets were largely unmoved by news of the credit card company’s conversion into a bank holding company.
Hong Kong's SFC puts structured product approvals on ice
Hong Kong’s Securities and Futures Commission (SFC) has delayed approvals of structured product issues for retail distribution following protests from Hong Kong investors that have lost money from the blow-up of so-called minibond structured credit…
DME to list products on CME Globex
The Dubai Mercantile Exchange (DME) has announced plans to list its contracts exclusively on the Chicago Mercantile Exchange (CME) Globex platform.
Exelon bid rejected
NRG Energy has rejected Exelon Corporation’s unsolicited merger offer made on 19 October 2008, claiming it “significantly undervalues” the firm.
Icap releases guidance on OTC markets
The future course of the over-the-counter derivatives markets will depend on the simplification and overhaul of existing infrastructure so that it becomes more transparent, Risk heard at an Icap press briefing this morning.
CDS spreads fall this morning
The cost of credit protection on European banks tightened in early trading today after reaching a peak on Friday, as quarterly profits plummeted.
Treasury and Fed help AIG lay-off CDO risk
AIG was shored up by a restructuring plan hammered out by the US Treasury and Federal Reserve Bank of New York today, which involved the creation of an off-balance-sheet vehicle to neutralise some of the insurer’s hefty collateralised debt obligation …
Ted spread continues to fall
Following last week's rate cuts, the Ted spread, which tracks the difference between three-month Libor and Treasury bills, had fallen today to 2.01 when trading opened, the same level as September 15, when Lehman Brothers filed for bankruptcy.
Liquidnet expands into Singapore
Liquidnet, a global institutional marketplace, will open an office in Singapore in November amid growing interest in the region from its buy-side members.
EU convenes working party on derivatives
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Sterling Libor eases after rate cuts
Yesterday’s interest rate cuts in the UK and Europe substantially eased interbank lending conditions this morning.
Constellation announces further plans to boost liquidity
Constellation Energy has reported a third quarter loss and announced plans to sell its downstream gas trading operations in an additional bid to increase its liquidity position.
Derivatives loss impacts on Reliant’s Q3 results
Reliant Energy has announced a third quarter net loss of $1.04bn, due to unrealised losses of $1.69bn on energy derivatives.
Coal futures contract launched on ICE
Coal-trading platform globalCOAL has collaborated with global futures exchange the IntercontinentalExchange (ICE) to introduce a financially settled coal futures contract, entitled the gC ICE Newcastle Futures contract, specifically designed for the…