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Wednesday, July 16
Julius Finance tops up seed financing to over $1M with uplift
by
Sean Sprackling
on Wed 16 Jul 2008 12:34 BST
New York, July 16, 2008: Julius Finance, the leaders in model fusion for the $58 trillion dollar credit derivatives market, today announced that due to overwhelming interest it has topped up its seed round at a substantial uplift in valuation. This brings the seed round investment to over US$1m, subscribed to by some of the brightest minds on Wall Street. Julius's groundbreaking technology is rapidly leveling the playing field for participants in the $58 trillion dollar credit derivatives market, delivering dealer-beating analytics, relative value signals and essential risk analysis.
The seed-stage funding is being used to drive core development of the underlying technology and commercialization of JuliusProp™, an enhanced analytic data service for end users which provides a full range of market implied risk metrics, exotic prices, and forward-looking analysis uniquely derived using next generation unified credit models. Calibrated using the full set of observed CDS quotes, CDX and ... more »
Tuesday, July 15
To Clear or not To Clear...
by
Sean Sprackling
on Tue 15 Jul 2008 10:10 BST
That is clearly the question right now. Whether 'tis nobler to suffer the slings and arrows of outrageous regulators, it seems everyone is getting on board the clearing bus at the moment (so I thought I would too...)
As someone that works exclusively in the buy side, I tend to ignore clearing issues as that is the dealers problem, isn't it?  However since last summer there has been a tide of opinion swamping the markets as a whole about how to shore up some of the more transparent risks in the global derivatives infrastructure and we seem to have come to the conclusion that more focus is needed here. In the last few months and weeks the likes of Ben Bernanke, CRMPG, IOSCO, the EU and the OFT in the UK, plus a raft of other notables have been holding forth on the subject and the exchanges and dealers are ... more »
Wednesday, July 9
Liffe to launch Credit Default Swaps on Bclear in Q4 2008
by
Sean Sprackling
on Wed 09 Jul 2008 08:13 BST
| (07/07/08)
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Amsterdam, Brussels, Lisbon, London, New York, Paris,
Monday 7 July 2008 – Liffe announced today that the Exchange is
planning to launch Credit Default Swap (CDS) contracts on Bclear in Q4
2008.
Liffe CDS contracts will be based on the Markit iTraxx European indices.
The move marks a significant expansion of Liffe’s award winning Bclear service from equity derivatives into a new asset class.
Liffe CDS contracts on Bclear will combine the security of central
counterparty clearing with the flexibility that OTC market participants
demand. Pre-negotiated trades that are agreed off exchange will be
booked into a proven OTC clearing solution, addressing the operational
and systemic risk concerns that are at the forefront of discussions
between regulators and industry bodies.
Garry Jones, Executive Director of Business Development and Strategy
at Liffe, commented: “We are pleased to announce the launch of CDS
contracts on Bclear. Liffe is the first exchange ... more »
Markit Updates
by
Sean Sprackling
on Wed 09 Jul 2008 08:11 BST
Apols to all for my tardiness. I actually received this a week ago, but have been in Greece at the wedding of an old friend so have not had the chance to post it, but there are some interesting points (especially the new names - MarkitWire - and the announcement of PortRec, their new recs service which is to the best of my knowledge the first real competitor to TriOptima's TriResolve service) so I am including the full newsletter below:
Markit and SwapsWire
Offering Great Solutions Together
Markit
announced on May 27th that the acquisition of
SwapsWire is complete. The combination
of the Markit and SwapsWire trade processing platforms gives us critical mass
and a global network at a time of increased consolidation in the vendor market.
As the industry focuses on cost reduction and improved risk management, the
efficiency and scalability of the new Markit platform will become even ... more »
Wednesday, July 2
Markit and Creditex Announce Launch of Innovative Trade Compression Platform to Reduce Operational Risk in CDS Market
by
Sean Sprackling
on Wed 02 Jul 2008 11:00 BST
Press release - 2 July 2008
Creditex
and Markit today announced a joint initiative to launch an
industry-wide portfolio compression platform for the credit derivative
market. This process is the first of its kind and represents a
significant improvement over previous tear-up processes. The platform
supports commitments made by major market participants to the Federal
Reserve Bank of New York relating to improved operational efficiency
and risk reduction.
Developed in response to a request by the
International Swaps and Derivatives Association (ISDA) on behalf of
major credit derivative dealers, the platform will reduce operational
risk and improve capital efficiency by reducing the number of trades
and the gross notional outstanding value of single-name credit default
swaps (CDS) held by dealers. This will be achieved through a
multi-lateral portfolio “compression” or “tear-up” process that is
scheduled to launch in the third quarter of 2008.
The new
compression approach improves on previous ... more »
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