The demise of Lehman Brothers spelled potential disaster for the US market. Reverse convertibles have sunk on the back of falling equity markets, fear of structured products is spreading like wildfire in the wake of negative media coverage, and a hoped-for...
The collapse of Lehman Brothers left billions of dollars of structured notes with unhedged exposures, prompting issuers to scramble for new counterparties to restructure trades. Meanwhile, some structured product providers have offered hope to investors...
The issue of counterparty risk and how best to convey it to retail investors dominated the agenda at the Structured Products Europe conference. Delegates explored ways of identifying and mitigating risk, while the rise in structured funds and regulation...
The International Swaps and Derivatives Association will publish terms for a cash-settlement auction on loan credit default swaps (LCDSs) referencing Hawaiian Telecom over the coming weeks.
Richard Fuld will step down from his position as chief executive officer of Lehman Brothers at the end of this year, remaining in his role as chairman.
In an auction to cash-settle credit default swaps (CDSs) tied to Icelandic bank Landsbanki, recovery rates on its senior and subordinated debt were set at 1.25% and 0.125% today, respectively.
The fallout from the default of Lehman Brothers continues spread across the structured products industry, as arrangers seek to reassure nervous high-net-worth clients that their investments are safe. Michael Marray reports