American International Group Inc. (NYSE: AIG) has released more information on many of the troubled Maiden Lane III derivatives transactions. These are those contracts that helped to knock the company down from a financial giant to a controversial company that could not service without the Uncle Sam Bail Out. This shows the counterparties in the filing as well, with some of those being Bank of America Corp. (NYSE: BAC), Goldman Sachs Group Inc. (NYSE: GS), UBS AG (NYSE: UBS), Barclays plc (NYSE: BCS) and others… Wachovia, George Quay, SOCGEN, Goldman Sachs (listed as GSI and GSCM), CALYON, BGI, Bank of America, Merrill Lynch, RBS, HSBC BANK USA, Rabobank, CORAL Purchasing (Ireland) Limited, Deutsche Bank, REMO FINANCE INC-Dresdner, UBS, Barclays, and BMO.
Before you see the figures, keep in mind that this disclosure is over the 2008 derivatives along with counterparties… some of which no longer exist. Read More
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BATS Exchange has been an almost stealth success in the world of trading stocks. In about four years it now claims to have about 10% of the US equity trading market share and about 8% of the FTSE 100 market share in trading volume. The company also recently filed rules with the SEC to launch US equity options trading and a second U.S. equities exchange both slated for launch in early 2010. Now it plans to launch a new ‘primary listings market’ by summer of 2010, which 24/7 Wall St. would dub the (or an) “other-other IPO market” for companies. BATS said that it wants to provide “a competitive alternative to incumbent exchanges by expanding into the US listings market.” The details were very limited in the release, so we will wait for more data and information before signing this up for the party or for the funeral.











