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Adair Turner to head FSA

Adair Turner will succeed Callum McCarthy as chairman of the UK Financial Services Authority in September this year.

Central clearing house becomes a reality

Clearing Corporation, a Chicago-based clearing house, and the New York-based Depository Trust and Clearing Corporation (DTCC) will launch central counterparty clearing services for a range of over-the-counter credit derivatives in the third quarter.

LME updates plastics contracts

The London Metals Exchange (LME) has altered its plastics derivatives contracts so their terms are more like those of non-ferrous metals contracts listed on the exchange, such as aluminium.

Mishkin resigns from Fed board

Frederic Mishkin will step down as one of the governors of the US Federal Reserve in August, creating a third vacancy on the seven-seat board.

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