Manila plays host to forex industry

ACI CONGRESS

Kicking off the day's plenary session will be Michael Powell, head of global markets at HSBC, with a talk entitled 'From Queen's Road to Canary Wharf'. This will be followed by a panel discussing rationalising credit rating agencies moderated by Cezar Consing, TRG Management Hong Kong. Panelists will include Stephen Taran, managing director, Citigroup Global Markets, Stephen Long from JP Morgan, James McCormack, senior director and head of Asian sovereign ratings, Fitch Ratings, and Max Schieler

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Króna in chaos during Iceland's meltdown

REYKJAVIK - Confusion reigned in Icelandic króna trading last week, as the country's central bank, Sedlabanki, abandoned its peg to a basket of nine currencies a day after it was effected.

Death by association

The application of credit technology to diverse underlyings led to the birth of collateralised foreign exchange obligations in 2006. But despite being built from uncorrelated underlyings, their fortunes have proven highly correlated with the wider market…

Nothing beats a good trading scandal

The past week has produced a frenzy of headlines, from the FTSE index hitting seven-year lows and the Federal Reserve's surprise 75 basis point rate cut, to the billions of dollars in writedowns at major dealers. But nothing grabs the attention as much…

Rating agencies assess CP markets

EUROPE – Fitch Ratings and Moody's sought to capture the effect of the commercial paper (CP) market's lack of liquidity on the wider banking outlook in two conference calls last week.

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