BloggingStocks has a new home! Daily Finance.
Click here to visit the new home of BloggingStocks!
The Richest Woman in the World: How Gina Rinehart Earns her Billions
Why Dell Will Never Be Great AgainClearingHouse posts
Feed
Intercontinental Exchange, Inc.'s (ICE) stock has meandered since the buy recommendation on June 2, 2009 at a price of $115.15, but I'm reiterating my call. Here's why: Continue reading Intercontinental Exchange: Pull-back is a buy opportunity
We can just about shelve any hopes of banking reform from Congress. Barney Frank, Chairman of the House Financial Services Committee said: "I don't think you're going to see that happen" (referring to mandates for financial companies to process their swaps through a clearinghouse).
Frank went on to say that there would be a presumption that standardized contracts would be sent to a clearinghouse but that it would not be an iron clad rule. With the bankers ignoring established rules and doing pretty much what they want, forget about that idea.
Continue reading Barney Frank capitulates to the bankers on derivatives reforms
A new day is dawning for regulation of interest rate swaps. Fifteen banks have agreed to clear 90% of new credit derivatives by December. Banks will also submit 60% of existing interest rate swaps to a central counter party.
What does this mean? It means that trades will clear through an independent counter party called a clearinghouse. What then is a clearinghouse? A clearinghouse is a central counter party that serves as buyer to every seller and seller to every buyer. Commodity futures trades pass through a clearinghouse.
What kind of numbers are we looking at? The interest rate swaps market is a $403 trillion market.
Continue reading Banks plan to clear 90% of their new swaps with a clearinghouse by December
Find out why more people track their portfolios on AOL Money & Finance then anywhere else.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update