The McDonald's burger bar at Liverpool Street in London and the more ritzy-sounding La Defense on the outskirts of Paris lie at the heart of structured products. The business was created there by financiers working into the night to create models that would make option pricing understandable and palatable to a retail investor audience.
There were other nerve centres, starting from convertible bonds desks in New York, servicing issuers of these bonds and warrants in Tokyo, also taking in Brussels
- Regulators to scrutinise CCP default auctions
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- VAR surges, revenues tank at French banks hurt by volatility
- Swaps data: SOFR volume and margin insights
- A rush on Libor fallbacks to head off holdouts