Exchanges
Italian regulator to use CDS data
Interdealer broker GFI has started providing credit default swap (CDS) data to the Commissione Nazionale per le Società e la Borsa, the Italian securities market regulator (Consob)- possibly for market surveillance purposes.
2007 compliance costs a major worry says survey
Nearly two-thirds of respondents to CBI/PWC questionnaire fear increased spending
Ice expects to launch Nybot commodities by end of month
The Atlanta-based Intercontinental Exchange (Ice) has announced the New York Board of Trade’s (Nybot) main soft commodities contracts may launch electronically later this month.
LME to add new ferrous contracts and expand OTC clearing
The London Metals Exchange (LME) plans to launch futures in ferrous metals and offer over-the-counter (OTC) clearing this year, as part of a plan to attract new business.
Optionable adds new listings
Energy brokerage Optionable is now listing contracts for crude oil, heating oil and gasoline through its Opex trading platform.
Calyon launches fund-convertible bond
Calyon has issued €50 million of a new convertible bond based on shares in an equity fund, the first of its kind.
Nybot launches FX futures to support coffee traders
The New York Board of Trade (Nybot) will launch futures in the Colombian peso and Brazilian real next month.
A Ratings Quandary
Rating agencies
With a bang or a fizzle?
Basel II
Introduction
Regulation and compliance
The regulation debate
Following a series of price spikes, consumer groups in the US are rallying against the deregulation of electricity marketswith some success. David Watkins investigates
Less is more
With Phase II of the European Union Emissions Trading Scheme set to be rolled out, Miles Austin investigates whether it will deliver greater emission reductions than Phase I
Depending on Russia
Europe's increasing dependence on Russia for gas supplies throws up new risks that must be assessed. Understanding political risk is key, but the biggest risk to supply could be the lack of investment in the sector, finds Roderick Bruce
Richest US state hedges to dodge blackouts
The US state of Connecticut is rolling out an innovative method of power contracting which it hopes will alleviate some of the state's energy woes. If effective, the model could spread to other states, writes Elisa Wood
Dealing with a volatile gas market
Eric Fishhaut explores the current state of volatility within the US natural gas market and outlines how hedging with 'strips' can be used to secure long-term prices that are variable, but known
Moves to maturity
While many obstacles to the liquid short-term trading of gas in Europe remain, the market infrastructure is showing some signs of maturing. Oliver Holtaway looks at hub development in the European gas markets
Gateway to Europe
Turkey has ambitious plans to open its rapidly-growing gas market up to competition. Yesim Akcollu looks at how realistic these plans are
False dawn for first loss
CDO equity
Robert Lepone
The head of European loan trading at Morgan Stanley in London discusses issues surrounding the new loan CDS indices
CPDOs: A volatility game
A triple-A rated structure that pays Libor plus 200bp. Who wouldn't be interested in such a product? Perhaps the sceptics warning against the 15 times leverage and the instrument's high exposure to volatility. Laurence Neville reports
NYSE, NASD merger creates single SRO
REGULATORY UPDATE