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Newedge To Expand Its Offering Of Clearing Services To Centrally Cleared Interest Rate Swaps - Newedge To offer CCP Clearing Services For Interest Rate Swaps At CME Cleared IRS And LCH SwapClear In Partnership With Societe Generale Corporate & Investment Banking (SG CIB) And Crédit Agricole Corporate And Investment Bank (CACIB).

Date 13/03/2012

Newedge, a global leader in multi-asset brokerage and clearing, today announced plans to develop its clearing facilities for interest rate swaps (IRS), thus extending its leading position in central clearing. Newedge’s entrance into this space significantly expands its existing activities and complements its leadership in global exchange-traded and cleared derivatives (ETDs).
International Securities Exchange To List Options On ISE Max SPY™ Index - New Cash-Settled Option Product Tracks Most Popular ETF

Date 13/03/2012

The International Securities Exchange (ISE) announced today that it has filed for approval with the Securities and Exchange Commission (SEC) to list options on the ISE Max SPY™ Index, a new proprietary index that represents ten times the value of the SPDR® S&P500® ETF Trust (SPY). Currently, options on SPY are the most actively traded contract in the options industry, with average daily volume of 2 million contracts on a year-to-date basis. Options on the ISE MAX SPY Index will build upon the success of SPY options by offering a large-sized, European-style option that is cash-settled, characteristics which appeal to the institutional segment of the market.
LCH.Clearnet Receives Regulatory Non-Objection To Launch OTC FX Clearing

Date 13/03/2012

LCH.Clearnet Limited (LCH.Clearnet), the world's leading independent multi-asset class clearing house, on Monday received regulatory non-objection for its new OTC foreign exchange (FX) clearing service (ForexClear) from the Financial Services Authority (FSA), and is working with members towards the imminent launch of non-deliverable forwards.
Warsaw Stock Exchange In 2011: Consistent Implementation Of WSE Strategy Backed Up By WSE’s Robust Financial Standing

Date 13/03/2012

• Sales revenues: PLN 268.8 million, up by 19.1%
• Operating profit: PLN 133.7 million, up by 45.7%
• Record-high turnover on markets in shares
• Net profit: PLN 134.1 million, up by 41.5%
• EBITDA: PLN 164.7 million, up by 34.4%
• EBITDA margin: 61.3%, up by 7 percentage points
• ROE: 25.6%, up by 7.4 percentage points
• EPS: PLN 3.2
• Addition of the commodity market to WSE Group
CME Group To Begin Offering Portfolio Margining For OTC Interest Rate Swaps And Futures - New Program To Provide Industry-Leading Risk Management And Unparalleled Capital Efficiencies

Date 13/03/2012

CME Group, the world's leading and most diverse derivatives marketplace, today announced that beginning May 7 it will offer portfolio margining of over-the-counter interest rate swap positions and Eurodollar and Treasury Futures for house accounts. The risk reduction achieved by this program may result in capital efficiencies of up to 85 percent for certain portfolios, figures that remain unparalleled in the industry. Later in the year, the same benefits will be available for customer accounts pending regulatory approval.

UK's Financial Services Authority Mortgage Lending Data Published

Date 13/03/2012

The Financial Services Authority (FSA) today published its latest Mortgage Lending Data for the United Kingdom covering the period Q4 2011.
ESMA: Publication Of Responses To The Consultation On Delegated Acts Concerning Short Selling And CDS

Date 13/03/2012

o view the responses, please see the following page.
UK's Financial Services Authority: Head Of European Credit Sales At Credit Suisse Fined £210,000 For Improper Market Conduct, Disclosing Client Confidential Information And Exhibiting A Lack Of Skill, Care And Diligence

Date 13/03/2012

The Financial Services Authority (FSA) has fined Nicholas Kyprios, Head of European Credit Sales at Credit Suisse in London, £210,000 for improper market conduct in disclosing client confidential information ahead of a significant bond issue in November 2009.
FinArch Expands Market Share In Nigeria: Sterling Bank Implements Financial Studio Sub Ledger And IFRS

Date 13/03/2012

FinArch, an international market leader in integrated finance and risk solutions for the financial services industry, announced today that Sterling Bank is implementing its Sub Ledger and IFRS solution, jointly with its local partner Blueprint Business Technologies (BBT).
New EDHEC-Risk Research Sees No Evidence Of Causal Link Between Credit Default Swap (CDS) And Sovereign Debt Prices

Date 13/03/2012

In newly-released research by Dominic O’Kane, Affiliated Professor of Finance at EDHEC Business School, EDHEC-Risk Institute has performed a theoretical and empirical analysis of the relationship between the price of eurozone sovereign-linked credit default swaps (CDS) and the same sovereign bond markets during the eurozone debt crisis of 2009-2011. The working paper, entitled “The Link between Eurozone Sovereign Debt and CDS Prices,” tests the claim that speculative use of CDS by market participants had caused or accelerated the rapid decline in 2010-11 of bond prices in eurozone periphery countries, a claim that led to the decision by the European Parliament and member states on October 18, 2011, to make the ban on so-called “naked” CDS permanent.