DALLAS -- As disclosed in its Form 10-K filed today, Zale Corporation (NYSE: ZLC) is subject to derivative accounting for its derivative instruments under SFAS 133 "Accounting for Derivative Instruments and Hedging Activities." SFAS 133 requires the Company to mark-to-market forward gold and silver contracts used in its hedging strategy...
Financial engineering is a term that refers to the development of pricing methodologies and hedging techniques underlying financial derivative products. One aspect of financial engineering that leverages the power of derivative products in a simple, elegant fashion is the combination of existing derivative products. Let's consider a few of these...
In an effort to improve disclosures associated with derivative contracts, the Governmental Accounting Standards Board GASB has issued critical accounting guidance that will provide more comprehensive reporting by state and local governments. Under the new guidance, users of financial statements will be better informed about the risks assumed in derivative...
NEW YORK -- Fitch Ratings has affirmed Merrill Lynch Derivative Product AG's MLDP Issuer Default Rating IDR and counterparty rating at 'AAA'. The Rating Outlook is Stable. MLDP is a derivative product company DPC with a 'continuation' structure that serves as an intermediary for OTC derivative transactions between highly rated...
Risk control and derivative pricing have become of major concern to financial institutions. The need for adequate statistical tools to measure and anticipate the amplitude of the potential moves of financial markets is clearly expressed, in particular for derivative markets. This report summarizes recent theoretical developments, some of which were...
The Financial Accounting Standards Board has issued Statement No. 149, Amendment of Statement 133 on Derivative Instruments and Hedging Activities, which amends and clarifies accounting for derivative instruments, including certain derivative instruments The Financial Accounting Standards Board has issued Statement No. 149, Amendment of Statement 133 on Derivative Instruments and...
PLANO, Texas -- MicrotuneR, Inc. (Nasdaq:TUNE) announced today that it has reached an agreement to settle the consolidated shareholder derivative litigation, pending in the U.S. District Court for the Eastern District of Texas, against a number of Microtune's current and former officers and directors and Microtune as a nominal defendant....
This article presents a framework for using high frequency derivative prices to estimate the drift of generalized security price processes. This work may be seen more generally as a quasi-likelihood approach to estimating continuous-time parameters of derivative pricing models using discrete option data. It develops a generalized derivative-based estimator for...
HOFFMAN ESTATES, Ill. -- Career Education Corporation (NASDAQ:CECO) announced today that the United States District Court for the Northern District of Illinois has dismissed McSparran v. Larson, et al, a shareholder derivative action against the company and certain of its officers and directors. The court's order terminates this derivative litigation,...
The spotlight shines brightly on derivatives and all signs point to more of the same going forward. Their vast market size makes them a force to be reckoned with. This article focuses on derivative instrument valuation, which is a complicated business that requires a solid understanding of the many factors...
This paper has been prepared to comment on the treatment of aggregate results from index-based derivative contracts used by insurance companies to hedge insurance underwriting risk. The paper previously presented by the American Academy of Actuaries1 Index Securitization Task Force dealt primarily with the effectiveness of the individual index-based derivative...
This document's elucidates derivative contract, which is a contractual agreement to execute an exchange at some future date. The term, "derivative," arises from the fact that the agreement "derives" its value from the price of an underlying asset such as a stock, bond, currency, or commodity. A stock index futures...
This paper examines contemporary derivative instruments and the Islamic viewpoint of the new instruments. The validity and permissibility of these instruments appears to vary by scholar. This paper analyzes forwards, futures and options, examines the evolution of these instruments, their unique benefits and makes a case for why they are...
One of the most significant financial market trends is the increased use of derivative instruments. Despite the growth of derivative markets, transactions and positions in these instruments have never been widely disclosed. This is primarily due to their accounting treatment as largely off-balance-sheet items. This report gives an insight on...
SUNNYVALE, Calif. -- Network Appliance, Inc. (NASDAQ:NTAP) today announced that a shareholder derivative lawsuit filed against the Company and various officers and directors at Network Appliance has been dismissed. During fiscal year 2007, two shareholder derivative lawsuits were filed and alleged improper practices relating to the timing of stock option...
The article tells about the markets for one-month LIBOR futures contracts and options on those futures for a year-end price effect consistent with the previously identified year-end rate increase in one month LIBOR. It finds that the cash market rate increase passes through to the derivative contracts, which allows the...
NEW YORK -- Fitch has affirmed Lehman Brothers Derivative Products Inc.'s LBDP Issuer Default Rating IDR and counterparty rating at 'AAA'. The Rating Outlook is Stable. LBDP is a 'termination' structure derivative product company DPC that serves as an intermediary for OTC transactions between highly rated external counterparties and its...
The Financial Accounting Standards Board FASB issued an Exposure Draft to clarify the definition of a derivative. Amendment of Statement 133 on Derivative Instruments and Hedging Activities amends Statement No. 133, Accounting for Derivative Instru The Financial Accounting Standards Board FASB issued an Exposure Draft...
Four Oaks Fincorp, Inc. (OTCBB: FOFN), holding company for Four Oaks Bank & Trust Company, today announced that that it will restate its historical financial statements for the year ended December 31, 2005 and for the first quarter of 2006 to amend the accounting for certain derivative transactions relating to...
This article talks about the FASB Statement No.149 for the amendment of statement 133 on derivative instruments and hedging activities and FASB Statement No.150 for accounting certain financial instruments with characteristics of both liabilities and equity. If a contract ceases to be a derivative pursuant to Statement 133 and an...
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