Exchanges
Rabobank sues RBC over Enron total return swap
Rabobank, the Dutch financial institution, has filed a lawsuit against Royal Bank of Canada (RBC) over a $517 million swap transaction that RBC entered into with Rabobank to hedge a loan the Canadian institution had made to a unit of now-defunct energy…
Tools for the trade
Credit Risk
Totem launches valuation system to help energy traders
Totem Market Valuations, the London-based valuation clearinghouse, has launched a new service for energy traders. Totem’s energy derivatives valuation service is designed to give traders in over-the-counter energy contracts a market price gleaned from a…
Brokers launch marine fuel hedging service
US brokers OceanConnect and Starsupply plan to launch the first bunker fuel derivatives contracts by July 8.
Helsinki exchange set to launch weather derivatives
The Helsinki securities and derivatives exchange (HEX) is preparing to launch exchange-traded weather derivatives by the end of the third quarter.
Australian derivatives on the SFE now available in US
Two futures commission merchants, Carr Futures and Refco Group, will provide US-based customers with direct, electronic access to Sydney Futures Exchange (SFE) listed derivatives.
S&P set to change BT debt outlook to stable from negative, says BT employee
Rating agency Standard & Poor’s is set to raise British Telecom’s (BT's) A- rating from ‘negative outlook’ to ‘stable outlook’, said a senior BT employee late yesterday.
Credit Markets Update: bleak market sentiment and TMT woes drive spreads
European credit default swap spreads have continued to follow the equity market’s lead this week, tightening on Monday but widening again today. The volatile technology, media and telecoms sector set the tone for the wider market.
Liffe debuts Schatz contract
The London International Financial Futures and Options Exchange (Liffe) says it is pleased with the turnover of its two-year Schatz German government bond futures contract which debuted yesterday. There were 16,020 Schatz lots traded on the exchange,…
CBOT to debut five-year swaps future
The Chicago Board of Trade (CBOT) will launch a futures contract on five-year US dollar interest rate swaps on Friday, following up on the success of its 10-year swaps contract, launched in October. The exchange also plans to offer options on the five-…
Single-stock futures regulation just days away, says Newsome
The US Commodity Futures Trading Commission (CFTC) is keen to hammer out regulatory issues related to the trading of single-stock futures in the US in "a matter of days", CFTC chairman James Newsome said this morning.
New Hong Kong IRS benchmarks could boost local derivatives market
New longer-dated benchmarks for Hong Kong interest rate swaps could boost the city’s local derivatives market, say some market participants.
Weaving an integrated solution
A treacherous credit environment and growing awareness of the danger of credit and market risk correlation have convinced financial institutions that they need to evaluate these exposures together. To get a unified view, will they need to adopt unified…
TFS and Bank One launch energy clearing service
TFS Energy and Banc One Capital Markets have formed a strategic partnership to provide a single clearing process for both over-the-counter (OTC) and exchange-traded energy products.
The roads to currency overlay
Forex risk
Basel II op risk survey launched
Global banking regulators today launched their second survey seeking data on operational losses suffered by banks to help refine the op risk proposals of the Basel II capital Accord.
Higher or lower?
Credit Risk
Avoiding over-exposure
Credit Risk
Challenging times for CROs
Chief risk officers
The risk transfer shell game
Credit derivatives
Lessons Emerging from Disaster
Web access to market data and other tools could trim costs of maintaining redundant office space.
A cost/benefit approach to Basel II
The cost of implementing Basel II could put banks at a competitive disadvantage compared with non-banks, and spur them to ‘de-bank’ to avoid this regulatory burden. Harry Stordel and Andrew Cross say regulators must look at the provisions from a cost…
Weaving an integrated solution
A treacherous credit environment and growing awareness of the danger of credit and market risk correlation have convinced financial institutions that they need to evaluate these exposures together. To get a unified view, will they need to adopt unified…