Foreign exchange
Banks pack ailing debt into PDCF collateral
Investment banks could be getting rid of unsaleable high-risk loans by using them as collateral to borrow funds from the Federal Reserve through the primary dealer credit facility (PDCF).
Basel Committee aims to improve banking resilience
Daily news headlines
New Crude High on Supply Woes
Crude oil for May delivery hit an all time high of $113.93 in intraday trading on the New York Mercantile Exchange (Nymex) today
GSEs could endanger US credit rating
Exposure to government-sponsored enterprises (GSE) such as Fannie Mae and Freddie Mac could threaten the US government's AAA credit rating, New York-based rating agency Standard & Poor's has warned.
MBS capital charges coming soon in Basel II shake-up
Basel II capital requirements on structured credit products are to be raised as part of a wide-ranging review of risk management practices for financial institutions in G-7 nations, the Financial Stability Forum (FSF) has announced.
MSCI offers volatility
MSCI Barra has launched the MSCI Global Minimum Volatility indexes designed to reflect a minimum-variance or managed volatility equity strategy that focuses on absolute return and volatility.
Is the AMA procyclical?
Editor's blog
Paladyne and Numerix partner
Pricing and risk analytics provider Numerix and alternative investment technology vendor Paladyne Systems have agreed to integrate Numerix trading, pricing and analytical toolset within Paladyne’s hedge fund platform. The move is designed to allow…
Barcap aims to capture FX volatility
Barclays Capital has launched three FX Volatility indexes: the BetaVol, Smart BetaVol and AlphaVol. The indexes, which are designed to provide both portfolio diversification and event hedge protection against sudden market downturns, have been assembled…
Banks vow to improve transparency
The Institute of International Finance (IIF), a banking industry trade group, has promised to improve transparency about risk exposure and executive pay in the wake of the credit crisis.
Downgrades not the end of CPDO market
The last few months have seen massive downgrades of constant proportion debt obligations (CPDOs), but the worst could be over for the sector.
Five banks file counterclaim over Clear Channel LBO
A legal spat over the proposed leveraged buyout of Texas-based media company Clear Channel intensified on April 4, as five banks filed a counterclaim in New York against the company and its private equity suitors.
Icap expands equity presence by buying Link
UK interdealer broker Icap will pay up to £250 million to buy Link, an equity derivatives broker based in London.
Wing Hang Bank opts for Misys Summit FT
Wing Hang Bank in Hong Kong has agreed to install technology vendor Misys’ Summit FT treasury and capital markets software in response to increased demand for structured products from private wealth management clients, corporates and the retail market.
Barclays launches carry trade strategy ETN
Barclays Bank has launched the Optimised Currency Carry Exchange Traded Note on the NYSE-Arca Stock Exchange, which is designed to provide exposure to the Barclays Intelligent Carry Strategy Index which seeks a return by investing in high-yielding…
Centurion opts for SuperDerivatives
Centurion Bank of Punjab in India has chosen to deploy technology vendor SuperDerivatives’ SD-Banks multi-asset derivatives platform and SD-IR interest rates module.
US Treasury Blueprint: a good idea?
Editor's blog
Fed heightens its scrutiny of investment banks
Daily news headlines
OCBC aims for agri-property outperformance
OCBC Bank in Malaysia has launched the Agri-Property Outperformance floating-rate instrument of deposit, a 100% principal protected product that measures the out-performance of six international agribusiness stocks against the iShares Dow Jones US Real…
UBS launches second ETN platform of the week
UBS has become the eighth bank to launch an exchange-traded note (ETN) platform in the US. It listed eight notes on the Arca platform of the New York Stock Exchange today.
SG Index catapults into carbon credits
Société Générale Index (SGI) and carbon expertise firm Orbeo have launched the SGI Orbeo Carbon Credit Index, which is designed to give institutional investors, asset managers and private banks direct access to carbon.
Nasdaq OMX gives access to 100 largest companies
Nasdaq OMX has launched the Nasdaq OMX 100 Index which comprises the largest 100 largest companies listed on the combined exchanges of the Nasdaq OMX Group.