Foreign exchange
Fed increases security purchase plans
In an effort to resuscitate private credit markets, the Federal Open Markets Committee stated today that it would purchase up to $300 billion in long-term US Treasury securities over the next six months.
US Wrap: Market snaps into action to kickstart week
The US market sprang to life yesterday, offering 10 new products, the majority of which were reverse convertibles, with Barclays Bank using the structure to give investors exposure to three different commodities: gold, silver and oil, each represented by…
China publishes new derivatives master agreement
The Chinese National Association of Financial Market Institutional Investors (Nafmii), a trade association set up by the People's Bank of China (PBOC), has published a new master agreement for trading, settlement and netting of onshore derivatives traded…
Fed delays capital requirements rules for bank holding companies
The Federal Reserve has postponed new capital requirements ratios for bank holding companies for two years, in an effort to allow banks to boost capital levels amid continued weakness in the financial markets.
G-20 ministers agree expansion of international financial organisations
Daily news headlines
G20 calls for stronger IMF
A strengthened and expanded International Monetary Fund (IMF) is at the heart of the plan to soften the recession and repair the global financial system announced by G20 members over the weekend.
Spectron brokers first California carbon option
Spectron Environmental, the environmental products division of commodities brokerage Spectron, has brokered the first cleared Californian carbon option.
CME’s CDS platform approved
The Chicago Mercantile Exchange Group (CME) received the green light from the Securities and Exchange Commission (SEC) on March 13 to clear credit default swaps (CDSs), but now faces the hard task of getting customers to sign up to its platform.
IIF submits policy letter to G-20; launches MMG
Daily news headlines
FCStone disposes of loss-making energy account
FCStone Group, an integrated commodity risk management firm, expects losses of $110m from an unnamed customer's energy trading account, which it disposed of this week.
CME Group one step closer to CDS clearing
US exchange operator Chicago Mercantile Exchange (CME) Group has come one step closer to entering the credit derivatives market by signing a deal to clear credit default swaps (CDSs) on financial information services company Markit's CDX and iTraxx…
Arc looks East with Russian product
Arc Capital and Income has unveiled a new product for UK investors linked to Russian companies trading on the London Stock Exchange. The product began as a bespoke offer for advisory firms and is now being rolled out to retail clients with a minimum…
Stimulus targets US transmission issues
Obama's stimulus plan will put key infrastructure in place to support the continued growth of renewable energy in the US, finds Pauline McCallion
Paul Newman
To celebrate its 15th anniversary this year, Energy Risk brings you interviews with the veterans who have helped shape today's energy markets. Paul Newman, oil derivatives pioneer and managing director of Icap Energy, discusses the past 15 years in…
New heads for Freddie Mac after $50 billion losses
US government-supported mortgage buyer Freddie Mac has named its new chairman and chief executive, after reporting a loss of $50.1 billion for 2008.
Dealer interest delays LCH.Clearnet and DTCC deal
The Depository Trust & Clearing Corporation (DTCC) has pushed back the deadline for its takeover talks with LCH.Clearnet, in the face of a rival bid from a group of major dealers.
Dealer predicts 85% of CDSs could be centrally cleared by end of 2009
The head of credit derivatives at a major dealer has told Risk he expects to see 35-40% of the credit default swap (CDS) market centrally cleared by the end of June, and as much as 85% by year's end barring any unforeseen mishaps.
People should be frightened of FSA, says Sants
The UK Financial Services Authority (FSA) will adopt a tougher, more intrusive regulatory policy, in an attempt to bring the fear factor back to regulation, chief executive Hector Sants warned today.
DB and Stemcor forge steel trading alliance
Deutsche Bank has formed a strategic alliance with the world's largest independent steel trader Stemcor to offer steel derivatives products.
Is it all over for over-the-counter?
Bills proposed in the US Congress to limit the influence of speculators and boost transparency could significantly alter the OTC commodity trading landscape. Roderick Bruce reports
EDF slammed by Tartam tariff pricing
The French government's implementation of regulated energy prices has hammered its state-owned champion's 2008 results and undermined market liberalisation. Roderick Bruce reports
Constellation refocuses
Loss-making firm Constellation Energy looks to restructure and focus on power generation after rejecting a merger deal with MidAmerican