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Today's News
July 4, 2009

Enforceability Of Triangular Setoff Rights In Safe Harbor Contracts -- Still An Open Question? Part II

In last week's issue, we explained what triangular set off accomplishes and why dealers need it, and presented the question of whether, after the SemCrude decision, a triangular setoff provision in a safe harbor contract is enforceable against a U.S. Bankruptcy Code debtor.

Dividend Swap Prices

Credit Derivatives Data

Dividend Swap Prices

Previously in DW Online

FX Salesman Seen Heading To Susquehanna

David Steck, a senior FX salesman at Deutsche Bank in New York, has left the firm and is tipped to be heading to Susquehanna Financial Group.
Firms Do A 180 On Electrolux CDS

Hedge funds and bank prop desks in London were buying five-year credit default swaps on Swedish-based home appliances provider Electrolux Friday morning, marking a stark contrast to activity earlier in the week when they were selling protection on the name.
Morgan Stanley Touts Equity Correlation Play

Morgan Stanley this week started pitching a number of over-the-counter option plays to take advantage of what it expects will be falling correlation in the equity markets.
Citi Seen Hiring Equity Exotics Trader

Rob Pitcher, a director in exotic equity derivatives trading at Morgan Stanley in London, has left the firm and is expected to join Citigroup.
StanChart Advises Selling USD/TWD Straddles, Strangles

Standard Chartered is advising investors to sell strangle and straddle fx options on the U.S. dollar/Taiwanese dollar cross to take advantage of high premiums.
Asia Specialist Readies UCITS Fund

At the end of the month, London’s Prodigy Capital will launch a UCITS-compliant version of its USD30 million Asia and Emerging Markets Fund with a target size of GBP40 million.
Brevan Credit, Currency Traders To Manage New Funds

Groups of credit and currency traders from Brevan Howard Asset Management reportedly have been selected to manage two new hedge funds.
SEC Tipped To Regulate CDS

The U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission are already drafting regulations to govern over-the-counter derivatives, with the SEC most likely regulating credit default swaps.
CDS On Spanish Banks Spike Most

Credit default swaps on Spanish banks climbed higher than those of any other corporate bonds in Europe.
GlobeOp Hires Risk-Management Expert

GlobeOp Financial Services has hired Stuart Turnbull, a risk management and credit-risk expert, as a senior adviser to GlobeOp Risk Services.

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