Foreign exchange
Carbon registry link-up to boost trading volumes
The long-awaited link up of the European Union's emissions trading scheme with the Kyoto Protocol's carbon credit registry could take emissions trading to a new level, finds Katie Holliday
PowerShares to release actively managed US Real Estate ETF
Invesco PowerShares has announced its plan to launch an actively managed US Real Estate exchange-traded fund (ETF) on NYSE Arca in November.
Warsaw witnesses its highest volumes in structured products
The Warsaw Stock Exchange (WSE) has recorded its highest monthly value in turnover of structured products, reining in more than Z26 million PLN (US$9.6 million). The figure includes €2.03 million on bonds and Z23.99 million on certificates. The WSE also…
What’s our policy?
Today’s volatile and unpredictablemarket conditions make itincreasingly important to designan overarching risk managementpolicy upon which a riskmanagement programme can bedefined and built. David Perez ofEnite offers some guidelines
Shale shake-up
With high natural gas prices, volatility and fewer financingoptions, shale gas developers are de-risking through jointventures and more aggressive hedging programmes. CatherineLacoursière reports
EU aviation emission targets seen too low; reviewed 2013
The Justice and Home Affairs Council of the European Union has announced that aviation will be included in the Emissions Trading Scheme (ETS) from 1 January 2012, following a meeting in Luxembourg on October 24.
ICE Clear Europe goes live
London-based energy exchange ICE Futures Europe yesterday successfully switched its clearing operations from LCH.Clearnet to is own ICE Clear Europe clearing house.
Ambac and MBIA record heavy Q3 losses
Battered by mortgage-related positions and credit losses, bond-insurance companies Ambac and MBIA both took a hit in the third quarter.
CDS losses hit Swiss Re
Swiss Re, the world’s second largest reinsurer, has reported a third quarter net loss of SFr 304 million ($262 million) after being hit by heavy mark-to-market writedowns on its structured credit exposures.
Barclays releases Guaranteed Deposit Accounts for offshore bonds
Barclays Capital has launched two deposit accounts as the latest in its structured deposit series for offshore bonds. The five-year Guaranteed Arabia Titans 50 Deposit Account provides exposure to 50 leading Arab stocks, represented by the Arabia Titans…
Carbon and waste ETFs hit Euronext Paris
EasyETF listed both low carbon and global waste exchange-traded funds (ETFs) on NYSE Euronext today. The EasyETF Low Carbon 100 Europe offers investors exposure to 100 blue-chip European companies that have the smallest carbon footprint relative to their…
Direxion burst into ETF market with eight leveraged ETFs
Direxion, a provider of alternative investment strategies, has entered the exchange-traded fund (ETF) arena with eight leveraged bull and bear ETFs, offering 300% leveraged exposure. The Direxion Shares 3x ETFs provide 300% of the daily performance, or…
44% drop in EU ETS shortfall predicted
The global recession will bring a 44% drop in EU ETS shortfall, according to a forecast on November 3 by IDEAcarbon, a carbon market and research firm
Energy traders clash with regulators
In the wake of the credit crunch, energy trading executives have clashed with regulators over the potential imposition of what they see as onerous trade data reporting obligations.
FCStone to post bad debt provision
FCStone Group, an integrated commodity risk management company, has announced it expects to incur a pre-tax bad debt provision of up to $25m due to losses by three domestic accounts, including an energy trading account.
RBS announces further credit market hit
Royal Bank of Scotland (RBS), one of three British banks to receive capital injections under a £50 billion government bailout package, on Monday announced writedowns of £206 million of credit assets in the third quarter, following £5.9 billion of…
UK government sets up investment manager
Daily news headlines
SG takes a €370m hit on exotics and €447m loss on Lehman in Q3 2008
SG Corporate & Investment Banking reported a 14.3% increase in equity flow business over the third quarter of 2008, compared to the same quarter of 2007; also a 17.4% increase on the previous quarter. “However, structured products were penalised by an…
HSBC launches government-guaranteed steepener in US
HSBC has launched a new rates-linked certificate of deposit (CD) in the US. The deposit product lasts 15 years and is linked to the spread between 30 and five-year constant maturity swap (CMS) rates.
Powernext gas futures to launch in November
Energy exchange Powernext is set to launch natural gas spot and futures contracts for the French market in the second half of this month.
November target for CDS central counterparty
Dealers have pledged to the Federal Reserve Bank of New York to begin using a central counterparty for clearing credit derivatives by the end of November.