Europe’s Biggest Under-achieving Clubs Featuring Galatasaray, Ac Milan And Lyon


Bordeaux, French Ligue 1 Bordeaux rise one place in our rankings after finally recording their second victory of the season. Their struggles are by no means over, but a big 4-1 win over similarly struggling Sochaux puts an end to the run of winless games and moves Bordeaux up to 15th place. Girondins are far from out of the woods and their away record this season is still largely woeful, but the three points will be a welcome addition to their points tally after a tough start. Bordeaux’s next fixture should be interesting, but we’ll get to that in a couple of slides… 4. Hamburger SV, German Bundesliga Hamburger SV are another club who rise a place in our rankings after a huge win over Nurnburg, with the 5-0 away victory HSV’s first win in fourand enough to earn Nurnburg first-team bosses Michael Wiesinger and Armin Reutershahn the sack. Pierre-Michel Lasogga was the hero after netting a hat-trick, with Rafa van der Vaart and Tolgay Arslan also hitting the target. Hamburg move up to 15th place, one spot outside of the relegation playoff place, following that win but still have much to do to overcome their dreadful start to the season. Next up they are at home to Stuttgart. 3. Olympique Lyonnais, French Ligue 1 EuroFootball/Getty Images Back to Ligue 1 now and Bordeaux’s next opponentsOlympique Lyonnais. Lyon have endured a tough start themselves and, following a heavy defeat at the weekend, are now in 14th place having taken just one win from the last five. In fact,heavy defeat doesn’t really cover it; they were pummelled 5-1 by mid-table Montpellier and had Maxime Gonalons sent off. Lyon need to get back to winning ways quickly to renew their challenge at the top end of Ligue 1, at least for European football, and they will attempt to do that against Bordeaux in their upcoming match. 2.

ICE Clear Europe Announces Successful Launch of European CDS Client Clearing; Five Clients Active on Day One

“Credit Suisse welcomes the expansion of OTC clearing in Europe. The ICE Clear Europe clearing platform offers our clients additional choice for clearing OTC products, which is especially important given the impending introduction of mandatory clearing requirements, and we’re very pleased, therefore, to have cleared one of the first customer CDS trades through ICE Clear Europe,” said Alex Lenhart, European Head of Prime Services Listed Derivatives, OTC Clearing and FXPB Credit Suisse Securities (Europe) Limited. “Citi is very pleased to have partnered with Lombard Odier Investment Managers today in clearing some of the first client iTraxx positions at ICE Clear Europe. Citi is dedicated to offering the latest in OTC clearing solutions to our clients, and we look forward to continuing to work with ICE as mandatory clearing is rolled out in Europe,” said Silas Findley, Managing Director, Head of OTC Clearing for Europe, Middle East, and Africa at Citi. “J.P. Morgan is pleased to be one of the first clearing members to complete a client cleared trade on ICE Clear Europe’s CDS platform. This is a significant step forward for providing access to client clearing of credit default swaps in the European Market and a template as we build towards mandatory clearing under EMIR,” said Hester Serafini, global co-head of OTC Clearing at J.P. Morgan. In the U.S., ICE Clear Credit commenced client clearing in 2009 and has cleared U.S. $2.6 trillion in gross notional value for 301 clients to date. Globally, ICE has cleared 1.45 million CDS trades in the aggregate, totalling U.S. $44.8 trillion in gross notional value CDS instruments. Open interest stood at $1.5 trillion at September 27, 2013. ICE Clear Europe’s client clearing solution provides global OTC clearing expertise, an industry-leading risk management model, real-time clearing for index and single name CDS and enhanced position and margin portability. The ICE CDS clearing houses also have independent governance and the world’s largest dedicated default funds for CDS.