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Dealers work towards clearing house for credit default swaps
A group of dealers hoping to avoid the systemic implications of counterparty risk is working with the Clearing Corporation on establishing a central clearing house for certain credit derivatives products.
Mifid MTFs produce cost savings for brokers and dealers
More and more multilateral trading facilities (MTFs) are starting to compete with European equities exchanges, producing 4-5 basis points in savings for some of their users.
Auction rates securities investigations gathering steam
Regulatory investigations into the collapse of the auction rate securities (ARS) market are getting under way in the US, while investors stuck holding illiquid paper turn to the fledgling secondary market in an attempt to unwind their positions.
German Bank in Administration
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Subprime woes continue in first quarter
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Merrill Lynch sues insurer over credit default swaps
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HSBC faces sex discrimination and unfair dismissal claims
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FSA Closes one UK Firm and FINES two others
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Bear faces billion-dollar lawsuit from Kinetic
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SEC pounces on ID fraudsters
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New SEC rules aim to curb credit rating agencies
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HSBC loses details of 370,000 customers in the post
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Lehman Bros sells off shares
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Lehman sues over $352m fraud
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Banks pushed to change incentives
Banks are coming under increasing pressure from regulators, politicians and bank shareholders to review their pay and bonus structures to ensure traders are not incentivised to take excessive risks.
Regulators push for operations changes
The derivatives industry is facing regulatory demands to improve operations-related issues. In recent weeks, both the President's Working Group on Financial Markets (PWG) and the Financial Stability Forum (FSF) have pushed dealers to enhance the…
FSF calls for rating agency changes to aid market
Banks, investors and rating agencies are bracing themselves for a barrage of new regulatory guidance, consultation papers and capital charges in the wake of a report by the Financial Stability Forum (FSF) on April 12, which made a series of…
EC outlines changes to CRD
The European Commission (EC) has launched a public consultation on more than 50 technical changes to the Capital Requirements Directive (CRD).
Credit derivatives volumes continue to rise
The credit derivatives market grew by 81% in 2007 to reach $62.2 trillion in outstanding notional, according to figures from the International Swaps and Derivatives Association.