Europe
Container swap derivative clearing to boost market
LCH Clearnet's launch of a new over-the-counter (OTC) clearing service for container freight swap agreements is set to inject liquidity into the emerging market
Gazprom: European gas secure despite Belarus dispute
Gazprom quells market fears over a future European gas shortage by confirming its “readiness” to ensure additional gas deliveries to Europe in the event of Belarus shutting off Gazprom’s main gas transit system through the country
Oil outlook revised down
Oil prices are not expected to top $100/bbl in 2010 as energy sector participants pare down their 2010 forecasts in light of supply issues
Brussels calls for European ratings supervisor
European Commission proposes new body to oversee all credit ratings agencies operating in the European Union; security issuers must provide information to all agencies to boost competition
Conservatism still reigns in wake of crisis
The private banking division of Credit Suisse is still seeing the impact of the financial crisis on its investors’ requirements. Fixed-income structured products remain popular but the low interest rate environment is still affecting the types of…
S&P 500 index licensed to European ETF providers
Standard & Poor’s has opened its benchmark US index, the S&P 500, to seven exchange-traded fund (ETF) providers in Europe, meeting demand from a range of investors to be able to invest in US equities as the market recovers from recession.
Brussels backs bank tax to fund new resolution network
European Commission calls for a network of resolution funds to bear cost of winding down firms; cost covered through levy on lenders
Cesr to step up securities and derivatives scrutiny
European regulators act as markets show “exceptional volatility”
Dividend rout blamed on hedge fund short positions
Some bankers say hedge funds are behind the dramatic fall in dividends on May 7
New SocGen commodities strategy expected by year-end
Société Générale plans to have fully integrated a new power and gas trading strategy by the end of 2010 after announcing the sale of its 49% stake in the 10-year Gaselys partnership with GDF Suez yesterday.
IEA cuts global oil demand for 2009 and 2010
The International Energy Agency (IEA) slashes global oil demand for 2009 and 2010, following questions over the health of the global economy, weaker-than-expected data from Asia and the Middle East, and repercussions from the volcanic ash cloud and the…
Natural gas: a story of surplus
Oversupply in the natural gas market looks set to keep prices soft in the near term. Pauline McCallion speaks to the experts about the price outlook for this year and next and what that means for the arbitrage with oil
A return to domestic inflation
Activity in Europe’s domestic inflation derivatives markets dropped away after the collapse of Lehman Brothers. Now, dealers report buyers and sellers are starting to return. But there is likely to be less warehousing of risk by banks and a greater focus…
Conference warns of rising complexity in leveraged ETFs
Investors searching for good value and transparency have flocked to exchange-traded funds. But this demand is now driving increasing complexity, and speakers at the first Art of Indexing Europe conference in Frankfurt warned of the pitfalls of messing…
CBI: Quarter of UK power plants face closure
Independent business lobby group the Confederation of British Industry (CBI) has warned the latest draft of the European Union Directive for Industrial Emissions could force at least a quarter of the UK’s power plants to close, which would raise a major…
S&P to launch commodity sub-indexes amid US regulation fears
Ratings agency and financial research firm Standard & Poor’s (S&P) is to roll out two commodity-related sub-indexes that focus only on European and Asian contracts in response to fears the US Commodity Futures Trading Commission (CFTC) will make further…