News
Australia commits to emissions trading – ASX to launch futures
Following yesterday’s commitment by Australian Prime Minister John Howard to a domestic emissions trading scheme before 2012, the Australian Securities Exchange (ASX) plans to launch a carbon futures market.
Statoil selects Financial Objects’ energy credit risk solution
Norwegian oil & gas company Statoil is to implement Financial Objects’ energycredit solution worldwide. The solution will enable Statoil to manage credit risk across all of its energy trading operations. Installation began in April, and is expected to go…
EOn creates EOn Energy Trading; reveals investment strategy
German utility EOn has announced plans to align its trading and power generation businesses “on more European lines,” according to a company statement, “in order to seize earnings and growth opportunities created by the integration of Europe’s energy…
ICE acquires ChemConnect's commodity business
IntercontinentalExchange (ICE) has agreed to acquire ChemConnect’s commodity trading business. ChemConnect is an electronic marketplace for the $150billion US natural gas liquids (NGLs) and chemicals markets.
More cooperation likely in oil industry
The long term challenge to access and develop new oil reserves is likely to foster greater cooperation between the international majors and some national oil companies, says a report on the sector by Moody's Investors Service, a credit ratings agency.
Financial services dominate CDS market, says GFI market update
Financial services were the busiest sectors of the credit default swap market in May in both the US and Asia, according to a report from US interdealer broker GFI.
Bank of America promotes White to head of global markets
Bank of America has announced the promotion of Mark White to replace Mark Werner as head of global markets at its New York office.
Swiss Re brings first Mediterranean quake bonds
Swiss Re, the Zurich-based reinsurance company, has announced the closing of what it claims is the first Mediterranean earthquake risk bond.
Fears over LatAm consumer credit boom
A lending spree by Latin American banks has led to a massive rise in consumer debt. Banks are content to securitise these loans, but what happens when consumers start defaulting?
India publishes credit derivatives guidelines
New guidelines from the Indian central bank are intended to kick-start development of the credit derivatives market in the region. But are the restrictions too limiting to be of any use?