Feature
Misery for municipals
A year on from the collapse of the auction rate securities market, short-term variable-rate financing in the US remains scarce. In 2009, municipal issuers face surging costs and low interest rates most can't access. By Peter Madigan
The Rubik's cube of risk
The financial crisis has emphasised the need for integrated risk management and closer collaboration between trading desks and the middle office, covering market risk, collateral management, limits and counterparty risk exposure calculation. How well are…
When hedge funds attack
The financial crisis has combined with catastrophic performances among hedge funds to decimate the fund derivatives industry, staunching new deal flow and causing many banks to pull out of the business. Mark Pengelly reports
Breath of Liffe
Amid fierce competition and regulatory scrutiny, the combined initiative by derivatives exchange Liffe and clearing house LCH.Clearnet for clearing credit default swaps was launched on December 22. Will the two companies have a first-mover advantage? By…
Buy-side backlash
Trading costs
US regulatory overhaul inches closer
Editor's blog
CDS: Mizuho tightens to 95bp as market slips wider
Credit default swaps 5-year mid-levels for structured products issuers (Thursday January 29)
Lyxor launches ETFs on platform for IFAs
Lyxor Asset Management has released its UK range of 30 exchange-traded funds (ETFs) on to Ascentric, a whole of market wrap platform, making the range available to independent financial advisors (IFAs). Lyxor says IFAs are becoming an increasingly…
CDS: US banks tighten again
Credit default swaps 5-year senior mid-levels for structured products issuers (Wednesday January 28)
Barclays targets growth
Barclays Wealth has launched the Target Growth Plan, which is designed to provide exposure to the FTSE 100 index and offers a potential return of 55%.
CDS: European banks regain favour
Credit default swaps 5-year senior mid-levels for structured products issuers (Tuesday January 27)
Lyxor lays claim to largest equity ETF in Europe
Lyxor Asset Management has retained its status as manager of the largest equity exchange-traded fund (ETF) in Europe. The Lyxor ETF DJ Euro Stoxx 50, which accrued €5.147 billion in assets under management (AUM) by the end of 2008, gathered €1.5 billion…
UBS served with arbitration claim over Lehman notes
UBS has been served with an arbitration claim by a Florida law firm on behalf of an elementary school teacher, who lost over US$100,000 purchasing Lehman principal protected notes from the bank's brokerage arm.
CDS: Goldman Sachs, Morgan Stanley, BoA spreads tighten
Credit default swap 5-year senior mid-levels for structured products issuers (Monday January 26)
Deutsche unveils first ETF linked to global sovereign bond index
Db x-trackers, the exchange-traded fund (ETF) arm of Deutsche Bank, has released an ETF tracking a global sovereign bond index, listed on the Deutsche Börse. The ETF is based on the DB Global Investment Grade Government Eur Hedged Index, which provides…
CDS: European banks widen
Credit default swap 5-year senior mid-levels for structured products issuers (Friday January 23)
Update: Liquidity check goes live on Scoach
Scoach has launched a new tool for investors to check the quality of market makers for listed structured products online. The system, which is called Quote Quality Metrics (QQM), has been introduced by the Swiss structured products exchange to inject…
Hedge funds disclosure of op risk exposures inadequate
Editor's blog
CDS: Levels for Wednesday and Thursday flat ahead of the weekend
Credit Default Swap 5-year senior mid-levels for structured products issuers (Wednesday January 21 & Thursday January 22)
Sun Hung Kai agrees to US$11m Minibond buyback after SFC concerns
Sun Hung Kai Investment Services has voluntarily agreed to purchase all outstanding Lehman Brothers Minibonds bought by eligible clients after the Hong Kong Securities and Futures Commission (SFC) issued a reprimand over the sales of the products since…
UBS exits exotic structured products business in FICC
UBS is fully exiting its exotic structured products business within its fixed income, commodities and currencies (FICC) division, the bank has confirmed. As part of the restructuring, four senior managing directors have left the bank: Todd Morakis, head…
CDS: Levels are only going wider
Credit Dafault Swap 5-year mid-levels for structured products issuers (London close, Tuesday January 20)
S&P launches CDS indexes on US market
Index provider S&P has launched three S&P CDS US indexes, which are designed to provide exposure to the performance of the US credit default swap (CDS) market. The indexes can be used as underlyings for financial instruments such as structured products…
Culross launches listed Nomura note for UK investors
Culross Global Management, the UK-based investment manager, has unveiled a new listed note linked to two of its proprietary funds. The Nomura Culross Alpha note will be listed on the London Stock Exchange, and the Japanese bank that issued the sterling…