Deutsche Bank
'X' marks the spot
In a little over two years, DB x-trackers has captured an impressive 17% share of Europe's ETF market. With an existing portfolio of more than 100 products, the provider now plans to expand its offering in Asia while developing new product types such as…
SEC investigates first CDS insider trading case
Losses and Lawsuits
BoE inflation report pushes CDSs on European financials wider
The cost of credit protection on European financials increased this morning following the release of the Bank of England's quarterly inflation report. The report conceded UK GDP growth had been slower than expected in the first quarter of 2009, and…
SEC investigates first insider trading CDS case
Daily news headlines
First insider-trading case for CDS market
On May 5, the US Securities and Exchange Commission (SEC) filed the first civil action for insider trading involving credit default swaps (CDS).
NYSID causes first monoline CDS default
An auction is to be held to settle credit derivatives linked to Syncora, the monoline formerly known as XL Capital Assurance, after a committee declared a credit event to have occurred on the firm on May 1.
CDSs on Chinese financials tighten on positive corporate results
The cost of credit protection on Chinese banks fell this morning as a series of positive results for Chinese corporates boosted the Shanghai Composite Index 2.78% and Hong Kong's Hang Seng Index 2.76% in overnight trading.
Deutsche Bank moves into profit
Deutsche Bank reported pre-tax profits of €1.8 billion for the first quarter, clawing its way back from a catastrophic €6.2 billion pre-tax loss in Q4 of 2008.
Accounting boards: Spain's dynamic provisioning not the way forward
International accounting standard setters have warned that accounting for dynamic provisioning – rainy-day funds banks build up in good times to absorb losses in economic downturns – should not be recorded against profit and loss (P&L), as it is in Spain.
Merrill takes Deutsche to court over staff 'Raids'
Losses and Lawsuits
"Substantial increase" in European corporates hedging exposure to CEE
The depreciation of currencies in central and eastern Europe (CEE) has led to a wave of western European companies hedging their forex exposure to the region.
Dealer interest delays LCH.Clearnet and DTCC deal
The Depository Trust & Clearing Corporation (DTCC) has pushed back the deadline for its takeover talks with LCH.Clearnet, in the face of a rival bid from a group of major dealers.
LCH.Clearnet bid sparks conflict-of-interest debate
A proposal by a consortium of major derivatives dealers to acquire London-based clearing house LCH.Clearnet has led to suggestions that banks becoming intimately involved in the clearing process could present a conflict of interest.
LSE may join LCH.Clearnet bid consortium
The London Stock Exchange (LSE) today confirmed that it is "looking closely" at joining the consortium of financial institutions bidding for London-based clearing house LCH.Clearnet.
Banks agree to EU CCP for clearing CDS
Nine major dealers agreed to use an EU central counterparty (CCP) for clearing trades in credit default swaps (CDSs) today, paving the way for talks to resume with the European Commission.
CDSs on Fortis tighten
The cost of credit protection on Dutch and Belgian bank Fortis narrowed this morning, after Fortis chairman Jozef de Mey and BNP Paribas chief executive Baudoin Prot told media the takeover deal between the two banks is still alive.
CDSs on Irish banks widen further
The cost of credit protection on Irish banks rose steeply this morning as the European Commission warned Ireland's budgetary deficit could widen to 9.5% of GDP by the end of 2009.
Exposure to eastern Europe hurts German bank CDSs
The cost of credit protection on many European banks has risen on concern over their exposure to deteriorating economic conditions in eastern Europe.
US and European firms in bid for LCH
A consortium of major US and European financial institutions is lining up a bid for London-based derivatives clearing house LCH.Clearnet. Deutsche Bank is acting as adviser on the acquisition, as well as being part of the bidding group.
Deutsche hit by €1.7 billion equity derivatives losses in Q4
Deutsche Bank confirmed a net loss of €4.8 billion for the fourth quarter of 2008, bringing total losses for the year to €3.9 billion, compared with a net income of €6.5 billion in 2007. Year-on-year net revenues for the quarter fell from €7.3 billion in…
Deutsche takes 12 from Merrill Lynch
Twelve senior bankers have left Merrill Lynch to join Deutsche Bank's institutional group, as Merrill's former CFO steps down.
New Islamic head at Deutsche
Deutsche Bank's head of Islamic finance and head of structuring for the Middle East and North Africa (MENA), Geert Bossuyt, has left the bank, along with Ricardo Honegger, head of global markets, MENA.
Deutsche Bank expects €4.8 billion Q4 loss
Deutsche Bank announced on Wednesday it anticipates a €4.8 billion loss in the fourth quarter of 2008, which would mean a full-year loss of €3.9 billion.