Samsung Galaxy S9: everything we think we know about new smartphones
St Albans KFC closed amid chicken delivery crisis
The promise of a hyperloop in India: 150km in 25 minutes
India arrests 3 linked to billionaire jeweller in bank scam
IRS Warns Taxpayers of New Tax Refund Scheme
Opera Trading Capital Sells 9912 Shares of Credit Suisse AG
10 February 2018, 12:38 | Joann Bryant
Instant View: US stock slide drags S&P down 5 percent from January record
"With the CBOE SPX Volatility Index.VIX nearly tripling over the last three trading days mark-to-market profit and losses have been significant", said Ihor Dusaniwsky, head of research at S3 Partners.
Those bets unravelled on Monday as the benchmark S&P 500 index and the Dow Jones Industrial Average suffered their biggest respective percentage drops since August 2011.
The notes were worth a combined $US1.6 billion ($A2 billion) on Friday, according to Thomson Reuters' Lipper unit, but ended Tuesday at a more-than-92 per cent discount to their closing value the prior day. SG Americas Securities LLC owned approximately 2.16% of Credit Suisse AG - VelocityShares Daily 2x VIX Short Term ETN as of its most recent SEC filing.
Credit Suisse's share price has recovered slightly following a statement to the effect that the bank's exposure to the XIV ETN was fully hedged and CS therefore won't be affected by any of the losses relating to it. Shares of Credit Suisse slumped almost 4 percent on Tuesday morning amid the wider sell-off in equity markets.
The long-awaited market decline from record highs sent people to options for protection, raising prices for those derivatives, and eroding the value of XIV and other investments that effectively bet on tranquil conditions.
The VelocityShares refused to comment on the Monday's move.
One day after the Cboe Volatility Index (VIX) saw its largest one-day increase ever―115.6%―Credit Suisse announced it would be shuttering its popular inverse VIX ETN.
A similar note issued by Nomura was also...
As it happens, however, the death of XIV wasn't just the predictably result of a collapse in the equities market, but a kind of suicide. "There is no material impact to Credit Suisse".
"Investors will receive a cash payment per exchange-traded note in an amount equal to the closing indicative value of XIV on the accelerated valuation date", said Credit Suisse, which won't sell new XIV notes after the buyback.
The firm was sued in 2012 by investors who owned a "leveraged" ETN after new issuances of the notes, which doubled one market's returns, were suspended. Multiple exchange-traded securities that are also supposed to be bets on calm markets were halted Tuesday after losing the majority of their value overnight. Consequently, investors are exposed to the credit risk or the possibility the underwriting bank.
Police 'arrest man accused of stalking Bella Hadid'
Then, on Thursday, Hadid caught the man lurking around her apartment and was again forced to call the authorities. The investigation is still ongoing, and it's unclear if he remains in custody, the spokesperson said.
Instagram will soon tell who is talking your Stories
Until now, users have been able to record or screenshot other people's Stories posts secretly, without being detected. It will work with accounts which are public , and is apparently being tested with only a small number of users.
SoftBank in talks with Swiss Re for minority stake
There is no certainty that any transaction will be agreed, nor as to the terms, timing, or form of any transaction", said. Swiss Re is one of the biggest reinsurers in the world and has been in operation for over 150 years.
Winter Storm Warning continues for much of the region
Ice and snow covered Chicago's expressways, where there were at least 25 crashes overnight, the Chicago Tribune reported. Most school districts cancelled classes on Friday before any snow started falling, including the Chicago Public Schools.
Eagles Player Cuts Wrestling Promo At Super Bowl Parade
Patriots quarterback Tom Brady took to Instagram Friday, reflecting on last Sunday's Super Bowl loss to the Philadelphia Eagles . Tom Brady breaks his silence after the Patriots suffered a brutal loss to the Eagles in Super Bowl 52 on February 4.
Care 'honoured' ahead of record-breaking game
"It's just my gut feeling that he (Joseph) will start the game well against Wales ", said Jones at the England press conference. Asked if Eddie Jones' comments suggested he might be anxious about Wales , Jones added: "I don't know".