Who are the 16 banks that handle derivatives clearing? (See today's
front page, Financial Times)

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Request for Question Clarification by pafalafa-ga on 25 Sep 2006 19:41 PDT

tomtermite666-ga,

Can you clarify?

I do not see the article in question.


pafalafa-ga

Hello tomtermite666,

At first it was a bit difficult finding this information, because
there are actually 14, not 16, major credit derivatives dealers as
mentioned in the Financial Times on Monday, September 25:

"Industry on smooth learning curve with Corrigan report" 
https://registration.ft.com/registration/barrier?referer=http://search.ft.com/searchResults?queryText=derivatives&x=0&y=0&javascriptEnabled=true&location=http%3A//www.ft.com/cms/s/84f50e0e-4c31-11db-90d2-0000779e2340.html

"The New York Federal Reserve and other international financial
regulators summoned 14 leading credit derivatives dealers to its
imposing headquarters near Wall Street last September."



Here are the 14 dealers summoned to the Federal Reserve meeting last year.



1. Bank of America

2. Barclays Capital

3. Bear Stearns

4. Citigroup

5. Credit Suisse

6. Deutsche Bank

7. Goldman Sachs

8. HSBC

9. JPMorgan Chase

10. Lehman Brothers

11. Merrill Lynch

12. Morgan Stanley

13. UBS

14. Wachovia


There are actually more derivatives dealers than this, such as the
Bank of Tokyo and AIG, to give a few examples, but they were left out
of the festivities. The article below provides interesting reading on
what took place on Wall Street that day.


Sources:
Bank Tech
Trading Credit Derivatives: The New Frontier

By Brad Bailey, Aite Group
Wall Street & Technology
August 07, 2006
http://www.banktech.com/showArticle.jhtml?articleID=191801379




Search terms:
site:ft.com derivatives
bank of america federal reserve derivatives
ProQuest for the full text of the Financial Times article



If you need any clarification on the information I've provided, let me
know your query and I'll be glad to assist you.

Cheers,
--keystroke-ga

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Request for Answer Clarification by tomtermite666-ga on 29 Sep 2006 06:15 PDT

My intent is to contact the division in each organization regarding
derivatives (for my employer). Any idea how to refine the list to dig
up contact information? That is worth another US$100 to me!

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Request for Answer Clarification by tomtermite666-ga on 29 Sep 2006 06:16 PDT

Sept 25 Financial Times (US edition)

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Clarification of Answer by keystroke-ga on 29 Sep 2006 11:08 PDT

Hello tomtermite666,

I could certainly try to work on it for you and see what I can find. 

I'm not sure when I'll be able to look into it but if not today I
should definitely be able to in the next few days. I'll let you know!

--keystroke-ga