Exchanges
In the beginning...
Some aspects of the energy markets are unrecognisable from 1994, while other issues remain remarkably similar. Stella Farrington looks at the landscape of 15 years ago and how it has moved on
Rogue PVM oil deals not behind price spike say traders
Unauthorised trading in Brent futures contracts on June 30 by a staff member at oil broker PVM was not the main cause of a spike in oil prices, according to traders.
Finra scrutinises muni-bond market; US Treasury creates Consumer Financial Protection Agency
The US Financial Industry Regulatory Authority (Finra) has launched an investigation into financial institutions' underwriting derivatives contracts used by US municipals to finance debt at lower costs.
Oil broker PVM hit by trading loss
Oil broker PVM today said it has lost just under $10 million due to unauthorised trading in Brent futures contracts on June 30.
Baltic Dry Index altered to boost derivatives trading
Changes will be made to how the Baltic Dry Index (BDI) is calculated in an effort to boost derivatives trading, the Baltic Exchange announced today.
CME launches clearing services for physical NGL contracts
CME has announced the launch of clearing services for six new physically delivered natural gas liquids (NGL) futures contracts.
Strength in adversity
Following 12 months of unprecedented turbulence in the financial markets, Danske Bank has retained top place in the 2009 Nordic Risk derivatives rankings, fending off a stiff challenge from Nordea Bank in second and Skandinaviska Enskilda Banken in third…
The usual upsets
Having eluded the first wave of the financial crisis, Norwegian banks were finally pulled into the storm when volatility ramped-up a gear last autumn. In an exclusive interview with Nordic Risk, Emil Steffensen, deputy director general and head of the…
Put to the test
Finansinspektionen became the first European regulator to publicly reveal the results of its stress tests on Sweden's four largest banks in June. But how much do such exercises reveal about the ability of the country's financial institutions to withstand…
Let the right one in
Just like their peers in other markets, Nordic issuers of structured products face a struggle to come up with enticing offerings at a time when interest rates are at record lows and equity implied volatilities are at historic highs. John Ferry reports
New agreement on restructuring for European credit default swaps
European credit derivatives dealers have revised the details of a proposal to integrate restructuring as a credit event into the auction settlement process for credit default swaps (CDS), in preparation for the launch of the so-called ‘small bang'…
CME launches SO2 futures and options contracts
The CME Group will offer new sulfur dioxide (SO2) emission 25-allowance futures and options contracts from July 12, for a trade date of July 13.
Nomura offers protective safeguards with Flexis
Nomura has launched Flexis, a new structured product that offers protective safeguards to calm the default, valuation and liquidity concerns of investors. The predefined process for the resolution if an arranger defaults - in the form of resilience…
New Austrian natural gas exchange to clear through ECC
European Commodity Clearing (ECC) is to offer clearing services for a new natural gas exchange at Austria's Central European Gas Hub (CEGH), hosted by Vienna Stock Exchange.
Dubai to price physical oil against DME Oman futures
Dubai Mercantile Exchange (DME) has confirmed that the Dubai Department of Petroleum Affairs (DPA) will set its official monthly selling price (OSP) for physical crude based on a differential to the settlement price of the DME's Oman Crude Oil Futures…
Joint clearing venture for NYSE Euronext and DTCC
NYSE Euronext and the Depository Trust & Clearing Corporation (DTCC) will join forces to clear US fixed-income derivatives.
Bluenext announces deal with Chinese exchange
NYSE's Bluenext and the China-Beijing Environmental Exchange (CBEEX) have signed an agreement to set up an international information platform for Clean Development Mechanism (CDM) projects.
Troika Dialog issues capital protected notes in Russia
Troika Dialog closed the book earlier today on its first issue of capital protected notes in Russia. The Troika Index Bonds were issued by a special purpose vehicle - OAO Troika Invest - and incorporate a binding offer from by Troika Dialog Investment…