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FSA replies to Treasury’s allegations of failure
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US better prepared for flu outbreak than feared
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CME makes offer for Nymex
The Chicago Mercantile Exchange (CME) has confirmed that it has made an offer for the New York Mercantile Exchange (Nymex).
Black Swans and op risk
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Rogue Trader costs Soc Gen €4.9 billion
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Bank of America closes London commodities desk
Bank of America has closed its London-based energy and commodities trading desk as part of a global “realignment” strategy of its investment banking division that will see a total of 650 employees made redundant.
Liffe to list options on stock index ETFs
London-based derivatives exchange Liffe is to list options on the iShares FTSE 100 and DJ Euro Stoxx 50 exchange-traded funds (ETFs), which are operated by San Francisco-based asset manager Barclays Global Investors.
New deputy chairman at Tradition
French interdealer broker Tradition has named Bruce Collins as its new deputy chairman.
BarCap releases Quant credit strategy indexes
Barclays Capital has launched a new range of credit derivatives strategy indexes.
€4.9 billion fraud at Société Générale
Société Générale has suffered a €4.9 billion loss from rogue dealing by one of its equity index futures traders, forcing it into a €5.5 billion rights issue.
Shake-up at SG follows rogue trader losses
Top management at Société Générale has been reshuffled in the wake of the rogue trades which cost the bank €5 billion in losses this month.
Questions remain over SG rogue trader
In a conference call this morning, Société Générale's chairman, Daniel Bouton, attempted to explain how the bank came to suffer losses of almost €5 billion from a single rogue trader on its equity index futures desk, but left many questions unanswered.
'He didn't want to tell the truth immediately': Mianne on Kerviel
The Société Générale rogue trader knew "perfectly" how to conceal his trades with a combination of fictitious trades and rolling forward positions, according to Christophe Mianné, the new head of global equities and derivatives, who spoke exclusively to…
Monoline bailout looking likely
As market conditions continue to deteriorate, interested parties are coming together in an attempt to save the imperilled US monoline insurers from bankruptcy.
Man Investments opens Singapore office
Man Investments, a London-headquartered alternative investments manager with $71 billion under management, today opened an office in Singapore. Tim Peach, head of sales for South-east Asia, will relocate from Hong Kong to lead the Singapore team.
Bad timing for Basel II
The Basel II regulations on capital adequacy came into effect on January 1 this year. Although they were intended to produce more flexible and refined methods of calculating capital requirements, some are pessimistic about how the new rules will affect…
Danish banks ready for Sepa
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NYSE Euronext and Caisse des Dépôts launch carbon exchange
NYSE Euronext and French state bank Caisse des Dépôts have announced the launch of Bluenext, an international exchange that will operate markets in carbon emission allowances and credits.