CME Treasury Options To Expire Weekly, Eyes Key Economic Data
WSJ.com
Traders of U.S. interest rate derivatives have a new way to speculate on the release of key economic data and other market-moving events. Beginning Sunday evening, users of CME Group Inc. (CME) trading platforms can buy and sell options on Treasury futures that expire on a weekly basis. Treasury options currently expire only on a monthly basis.
http://jlne.ws/fGJD1x
Getting financial regulations right - Crain's column from president and chief executive of SIFMA, Tim Ryan
By Tim Ryan, Crain's
The Dodd-Frank Act, legislation that fundamentally changed our financial system, is just 6 months old, and already regulators have made reasonable progress toward implementing the law. But much work still lies ahead, and 2011 will be a crucial year for the financial industry. Our focus will be to “get it right.” We operate in global financial markets where new rules must be written on a coordinated basis by regulators around the world.
http://jlne.ws/g7dWIH
SunGard’s Stream GMI Supports Eris Exchange Interest Rate Swap Futures
Press Release
SunGard’s Stream GMI post-trade derivatives solution now gives CME Clearing members the ability to use their existing trade capture and bookkeeping processes to clear Eris Exchange’s interest rate swap futures through CME Clearing. Support for OTC interest rate swaps clearing is a key element of SunGard’s strategy to support listed derivatives and the transition of OTC interest rate swap products to the clearinghouse model as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. In addition to Eris Exchange, Stream GMI currently supports OTC interest rate swaps clearing with CME Group, International Derivatives Clearinghouse (IDCH) and LCH.Clearnet UK SwapClear.
http://jlne.ws/fEDzlB
Survey Indicates Inflation Expectation Still Muted
By Michael S. Derby, WSJ.com
U.S. households expect inflation to rise over the short term but remain contained over the longer run, shrugging off higher food and energy prices, in a positive sign for consumer spending patterns, according to a report Friday.
http://jlne.ws/fDdByl
Sarkozy: No Desire To Question Global Role Of US Dlr
iMarketNews.com
By calling for a reform of the world monetary system, France has no intention of calling into question the role of the U.S. dollar, French President Nicolas Sarkozy said Monday. Sarkozy, speaking at a press conference at the Elysee Palace, spelled out France's ambitious agenda for tackling global financial instability, growing payments imbalances and the institutional monetary order.
http://jlne.ws/f17UC8
Banks face major shake-up in plans being considered by inquiry
Daily Telegraph
The head of the independent commission examining whether the UK's biggest banks should be broken up warns the industry must prepare for wide-ranging reforms.
http://jlne.ws/gzeBfa
Davos: finding common ground in a complex world
By Patrick Jenkins - Financial Times
If anyone needed a reminder of the vastness of ambition that underpins the annual Davos meeting of the World Economic Forum, a quick glance at the programme of meetings on day one would do it.
http://jlne.ws/gW4rtv
Big banks losing share to Indie fund groups
By Ruth Sullivan, Financial Times
Big asset managers, particularly those with large banking or insurance parents, have traditionally been the winners in Europe. Economies of scale, distribution networks and plentiful resources have all contributed to their dominance, leaving little space for independent investment houses to compete successfully, especially in Spain, France and Italy where asset management is largely part of banking group activity.
http://jlne.ws/hmvgry
Oversight of banks costs US far more than EU
By Brooke Masters in London - Financial Times
The US spends more than six times as much to supervise banks and other credit institutions as the European Union, research has found.
http://jlne.ws/gnA2Hy
The Dodd-Frank rules you don't know
TIM KILADZE - Globe and Mail
The Dodd-Frank Act is an omnibus 1,200 page document that cracks down on things like consumer protection and derivatives trading. But many people don't know it also includes over 100 SEC and stock exchange mandates, and these will be implemented very soon.
http://jlne.ws/h5JMJL
Goldman Sachs Bond Sale Signals Inflation Concerns Waning: Credit Markets
Bloomberg
Goldman Sachs Group Inc .'s offering of 30-year bonds, its first in more than three years, signals waning concern among investors that inflation is accelerating.
http://jlne.ws/fHd2r5
UBS Snaps Up Two Impressive Ex-Deutsche Bankers To Run "Turbocharged" Equities Desks
Business Insider
Ricardo Honegger , the new Head of UBS Global Synthetic Equity, previously headed global markets and global banking for the Middle East North Africa region. He was also the chief country officer for the UAE.
http://jlne.ws/eSLk15
Barclays to unveil radical pay overhaul
By Patrick Jenkins and Megan Murphy in London - Financial Times
Bob Diamond will stamp his authority on Barclays next month, when the incoming chief executive announces a radical overhaul of the way it pays its top bankers as part of a broader strategic review that could see the group shed staff and put increased pressure on underperforming businesses.
http://jlne.ws/gpSlDp
Citigroup gives CEO Vikram Pandit a big raise
Straits Times
NEW YORK - CITIGROUP Inc is giving its CEO a big raise. The New York-based bank is lifting Vikram Pandit's base salary to US$1.75 million (S$2.25 million) from just US$1 a year effective immediately, according to a filing with the Securities and Exchange Commission on Friday.
http://jlne.ws/hHmZIN
Was Barclays mis-selling? It's hardly a million dollar question
Daily Telegraph
Picture the scene. It's Who Wants To Be A Millionaire the Personal Finance Special, and Chris Tarrant turns to the nervous contestant and asks the following question: "OK, take your time, as there is a lot of money at stake here.
http://jlne.ws/dK0o99
Mortgage Giants Leave Legal Bills to the Taxpayers
By NY Times
Since the government took over Fannie Mae and Freddie Mac, taxpayers have spent more than $160 million defending the mortgage finance companies and their former top executives in civil lawsuits accusing them of fraud. The cost was a closely guarded secret until last week, when the companies and their regulator produced an accounting at the request of Congress.
http://jlne.ws/fZUMDB
Kenyan Bank Earnings to Rise 30% in 2010 on Margins, African Alliance Says
Bloomberg
Kenya's banks are poised to increase earnings by an average of 30 percent this year as interest margins widen, African Alliance Securities Kenya Ltd. said.
http://jlne.ws/hzJt2W
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