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Tuckwell invites offers for ETF Securities
December 3, 2011--One of the pioneers in the exchanged traded fund market has put his company up for sale with a potential £1bn ($1.6bn) price tag that comes as the opaque sector has been thrown into the spotlight by a recent trading scandal at UBS.
Graham Tuckwell, the founder, majority owner and chairman of ETF Securities, has mandated Goldman Sachs to run a sales process for the London- and Jersey-based group, two people close to the situation said.
Gold rises above $1,750 an ounce
December 2, 2011--Gold had a positive week, rising above the $1,750 an ounce mark for the first time in two weeks on the back of the
co-ordinated move by six central banks to boost liquidity. The yellow metal was at $1,743.89 in New York midday trading on Friday, up..
Commodity prices rally on euro boost
December 2, 2011--Commodity prices rallied this week as the dollar weakened against the euro in reaction to global efforts to tackle an escalating eurozone debt crisis, analysts said.
The dollar won back some ground on Friday as traders booked profits ahead of next week's EU summit and after official data showed the US unemployment rate had dropped to 8.6 percent in November, its lowest level since March 2009.
Raw material prices, like equities, were buoyed this week after the central banks of the United States, the eurozone, Britain, Japan, Canada and Switzerland cut the cost of providing dollars to banks, giving more liquidity to financial markets.
ISDA - Publishes the Recommendation for FpML version 5.
December 2, 2011-The International Swaps and Derivatives Association, Inc. (ISDA) yesterday announced the publication of the Recommendation for FpML version 5.2.
One of the main features is the added support for clearing messages. In addition to the 5.2 publication, the Recommendation for version 5.1 is republished to include comments received after the publication of the 5.1 Recommendation.
Financial products Markup Language (FpML) is the industry data standard for OTC derivatives. A Recommendation is the final step in the development process of a version.
Besides the support for clearing messages, version 5.2 Recommendation covers physical settlement of interest rate options, a recent Supplement to the ISDA 2006 definitions and additional validation rules for Foreign Exchange. Work on regulatory and public reporting, a main focus area for the industry and developed in earlier working drafts of 5.2, has been withdrawn from this version.
New monthly record for carbon futures in November
December 1, 2011--Trading and clearing of carbon futures amounted to 9,852 contracts (9,852,000 tons) in November 2011. This is the highest monthly volume ever traded and cleared on NASDAQ OMX Commodities Europe’s carbon futures market in the course of one month.
November was the second consecutive month of record volumes on NASDAQ OMX Commodities Europe’s carbon futures market.
OECD Environment: Transforming the energy sector to deliver greener growth
December 1, 20111--Rising global energy demand and the need to drastically cut carbon dioxide (CO2) emissions require a transformation in the way we produce, deliver and consume energy, according to a new joint report from the OECD and IEA.
Green Growth Studies: Energy says governments need to increase energy efficiency and lower the carbon-intensity of the sector. As developed countries renew their energy infrastructure and developing countries build new power plants to meet growing energy demand, the time is right to make crucial choices for the future of the energy sector, the report says.
With the energy sector responsible for the majority of CO2 emissions, green growth policies could halve worldwide energy-related emissions of CO2 by 2050 using a combination of existing and new technologies.
view Green Growth Studies: Energy-(preliminary version)
Broker ICAP prepares systems for euro zone meltdown
November 29, 2011--ICAP, the world's top broker for foreign exchange and government bonds, has tested its trading systems to handle the collapse of the euro zone and the re-emergence of national currencies.
ICAP said on Monday it has been testing EBS, the world's largest foreign exchange platform, to ensure it could handle trading the Greek drachma in response to growing fears over a euro zone disintegration.
"We have contingency tested the Greek drachma in currency pairs versus the euro and the US Dollar because our customers have expressed concerns about how the euro zone situation will play out and we have to be prepared for every eventuality," said a spokesman for ICAP.
Hedge funds see global growth dipping
November 28, 2011--Hedge fund managers see global growth dipping next year amid likely eurozone sovereign defaults and a slowdown in China.
The views are disclosed as part of a survey covering more than a third of the world's hedge fund managers with $800bn ..
Dollar falls as risk appetite improves
November 28, 2011--Improved market sentiment left the dollar flagging on Monday, with the euro clawing back some of its losses from the previous week.
The rise in risk sentiment came amid hopes for eurozone treaty changes that would allow weightier bond purchases by the European Central Bank. Rumours that the International Monetary Fund was to offer aid to Italy, which were later denied by the IMF, boosted the euro in early trading.
Carbon plunges more than 11 pct to new lows
November 25, 2011-- European Union carbon permits and U.N.-backed credits plunged to new depths on Friday, as a continuation of panic selling amid fear of recession has wiped more than 25 percent off carbon prices this week alone.
Front-year carbon permits called EU Allowances (EUAs) hit a fresh record low of 6.98 euros a tonne, and were pegged at 7.05 euros at 0925 GMT.