FCStone Group increases bad debt provision for energy trading account

The realized losses, which will be for the second quarter of fiscal 2009, could total $36m to $48m, or $1.30 to $1.73 per share after tax. A statement released today by FCStone said this reserve was in addition to the $25.7 million pre-tax bad debt provision announced last November and taken during the first quarter of fiscal 2009 in connection with losses on this account and two other domestic accounts for which FCStone serves as the clearing firm or counterparty.

The company blamed the further

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Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

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