Feature
The bespoke conundrum
The dealer community has pushed towards standardisation of credit default swaps contracts, enabling them to meet a regulatory goal of ensuring a large chunk of the credit derivatives market is cleared through central counterparties. What implications…
The art of debt
Governments across the globe face huge increases in borrowing requirements, sparking concern over possible rating downgrades, while many have seen their credit default swap spreads widen dramatically. Despite this, sovereign debt management offices claim…
Retention rage
The European Parliament and the US Treasury are pushing ahead with plans to introduce retention charges for securitisation deals in an effort to align the interests of investors and originators. But market participants complain the move is ill-conceived…
Avoiding dividend meltdown
Dealers are starting to pay closer attention to dividend risk housed on their exotic books after many incurred sizeable losses last year. What are banks doing differently and can another dividend meltdown be avoided? Matt Cameron reports
The reality of risk-free
Warnings over the stability of the UK's AAA rating by Standard & Poor's in May have caused analysts to question whether other AAA rated sovereigns - including the US - are at risk of downgrades, given ballooning debt levels. What implications does this…
The Bair necessities
Federal Deposit Insurance Corporation chairman Sheila Bair has argued that systemically important financial institutions should hold more capital as a disincentive to growth, while a new entity should be set up to manage the orderly resolution of…
Yen for yield
The Japanese government inflation-linked bond market has received a severe battering over the past year. The resulting dislocation has prompted the Ministry of Finance to consider restructuring the market, but what options are on the table? Matt Cameron…
The data dilemma
While institutions continue to put huge resources into creating standard repositories holding 'golden copies' of financial data, there is growing support for the view that the industry would be better off standardising the data at source, and thereby…
Too many cooks?
The financial crisis has revealed the failure of regulators to detect major threats to the stability of the financial system in advance. A number of new authorities are now emerging to monitor systemic risk, but is it possible problems could still fall…
CDS: Spreads rally as investor confidence rises
Credit default swap 5-year mid-levels for structured products issuers (June 30)
CDS: Spreads tighten for second day
Credit default swap 5-year mid-levels for structured products issuers (June 29)
CDS: Spreads tighten; shrugs off UBS woes
Credit default swap 5-year mid-levels for structured products issuers (June 26)
The value of consistency
Credit Suisse invited industry leaders to take part in a forum to discuss market-consistent embedded value and its use as a tool for understanding liabilities in these choppy markets
Barclays launches first mining linked plan
Barclays Wealth has launched its first mining themed structured product for investors wanting to position themselves for an economic recovery. The Mining Stocks Supertracker Investment Note gives exposure an equally weighted basket of mining stocks with…
RBS poaches trader Chang from Barclays
Royal Bank of Scotland (RBS) has hired Kevin Chang as head of equity derivatives strategy in Asia, as the government-backed bank continues to aggressively expand into the institutional derivatives space.
CDS: Spreads narrow in a thin market
Credit default swap 5-year mid-levels for structured products issuers (June 25)
Nomura offers protective safeguards with Flexis
Nomura has launched Flexis, a new structured product that offers protective safeguards to calm the default, valuation and liquidity concerns of investors. The predefined process for the resolution if an arranger defaults - in the form of resilience…
Source adds three to exchange-traded product platform
Source, the exchange traded product provider has expanded its platform with the addition of three new partners, notably Nomura and also Banca IMI and IMC Group from Italy.
CDS: Spreads widen for second day
Credit default swap 5-year mid-levels for structured products issuers (June 23)
RBS teams up with Trader Vic to launch multi-asset index
Victor Sperandeo, chief executive officer of Enhanced Alpha Management and the Royal Bank of Scotland have partnered to launch a new long short strategy index designed to deliver absolute returns. The Trader Vic Index (TVI) is a managed futures index…
CDS: Widen on recession concerns
Credit default swap 5-year mid-levels for structured products issuers (June 22)
US Wrap: Barclays Bank leads the pack with riot of reverse convertibles
Barclays Bank issued 27 new reverse convertibles in the US market last Friday, continuing the resurgence of the structure. Wachovia launched five of the same, using the external credit of Eksporfinans. Morgan Stanley launched an accelerated growth note,…
Neave leaves Keydata to lead new SP business at Arbuthnot
Adrian Neave, corporate development manager at Keydata has left the newly insolvent UK structured products distributor to join the Arbuthnot Banking Group, to lead the launch of a new structured products distribution business.