Foreign exchange
Faltering flows
Prime broking
Blue Sky appoints managing director and chief investment officer
Investment boutique Blue Sky Asset Management has appointed James Chu as managing director and chief investment officer, based in London. Chu, who co-founded Blue Sky along with Chris Taylor, chief executive, will work alongside former HSBC Asset…
Merrill Lynch fervent on equity volatility
Merrill Lynch Global Research has launched the Merrill Lynch US Forward Equity Variance Rolling (FEVR) index, which measures the performance of a long S&P 500 volatility strategy. The index tracks volatility using a strategy designed to minimise the…
JP Morgan debuts in Singapore; launches first Asian structured funds
JP Morgan has launched its first structured product for Singapore retail investors and has also brought to market two retail structured funds in Asia for the first time.
European Commissioner backs power exchange merger
EU energy commissioner Andris Piebalgs has backed the merger of Germany’s European Energy Exchange (EEX) and France’s Powernext to create single Franco-German power spot and futures markets.
Central clearing house becomes a reality
Clearing Corporation, a Chicago-based clearing house, and the New York-based Depository Trust and Clearing Corporation (DTCC) will launch central counterparty clearing services for a range of over-the-counter credit derivatives in the third quarter.
Krein moves into the mainstream
David Krein has joined Dow Jones Indexes as senior director, institutional markets, moving from DTB Capital, a financial services firm that he founded in 2006. Krein will be a representative of DJ Indexes to the institutional investment community…
CFTC seeks greater energy market transparency
The US Commodity Futures Trading Commission (CFTC) has launched a series of new initiatives with which it hopes to increase the transparency of the energy futures markets.
FSA publishes feedback on the liquidity requirement discussion paper
Daily news headlines
Rising costs hinder new power plant builds
Costs of building new power plants in North America have surged dramatically since 2000 and will continue to rise, the IHS CERA Power Capital Costs Index (PCCI) has revealed. According to the index, the costs have escalated by 130% since 2000 and…
Merrill Lynch suspends equity derivatives trader
Merrill Lynch has initiated a probe into suspicious activity detected on one of its equity derivatives trading desks, suspending one of the traders at the desk.
Marking to market, to model or to matrix?
10. Mark-to-market
CDOs: Weathering the subprime storm
1. Introduction
Arbitrage, super-senior and single-tranche CDOs
4. Other CDO types
The benefits of balance sheet management
2. Balance sheet management
Monoline insurers and the super-senior bombshell
9. Monolines
The spread of collateral in the CDO market
5. Other collateral types
Rebuilding a stronger structured credit market
Sponsored foreword
CDS and synthetic CDOs
3. Credit default swaps
Summer 2007: When the music stopped
8. Credit crisis