Structured products
Market graphic - A consensus for valuation input assumptions
Money managers' expectations for the 12-month performance of underlying loans behind European RMBS are showing signs of improvement, says Peter Jones
Agency brokers: Back in vogue
In the old days, before the advent of the all-singing, all-dancing full service investment banks, agency brokers used to represent an important, if niche part of the credit trading business. Now, after a period in the wilderness, these agency brokerages…
Red dawn for Russian securitisation
It has been a dark time for Russia's securitisation market, but the addition of RMBS to the list of eligible assets for the central bank repo facility is raising hopes that a wave of new deals will herald a return of investor demand and re-energise the…
Gap trade interest could salvage dealer risk recycling channel
Renewed interest in gap risk trades might resurrect the defunct trading channel previously used by structured products issuers as a means to recycle unwanted gap risk, say dealers.
TSE targets Japanese banks for CCP
The Tokyo Stock Exchange (TSE) is courting domestic financial institutions to become clearing members of its proposed central counterparty (CCP), which it is developing alongside its 86.3%-owned clearing arm, Japan Securities Clearing Corp (JSCC).
Investec opens latest suite of products to investors
Investec is offering a new set of capital protected FTSE-based plans covering growth and income products, as part of its 10 th collection.
UK Wrap: Risk appetite returns in new plan launches
Risk appetite returned to the UK last week with the launch of a slew of 'at risk' plans. Leading the pack was a asset manager Jubilee, with its Optimised Growth Plan 1, which also gives accelerated growth.
Jubilee plan to optimise growth
Jubilee Financial Products, a UK-based boutique asset manager, launched last week a new growth product, which aims to get the best entry point for investors.
Blackrock says BGI deal adds ‘balance’ and ‘choice’ to money manager
Blackrock's £8.2bn ($13.5bn) purchase of Barclays fund management division Barclays Global Investors (BGI) will give additional balance and choice to customers as the business will now be able to offer both passive and active strategies, says Tony…
CDS: Spreads narrow tracking equity rally
Credit default swap 5-year mid-levels for structured products issuers (July 14)
Amerex launches consulting service
Amerex Brokers, an over-the-counter energy broker and wholly-owned subsidiary of GFI Group, has formed a fee-based energy risk management and execution consulting division called Amerex Energy Consulting Services (AECS).
Quant Congress: Don't confuse models with reality, says Derman
Models were not responsible for the financial crisis, but those using them need to remember the shortcomings of models in general, asserted Emanuel Derman, head of risk at Prisma Capital Management and professor at Columbia University, at Risk 's Quant…
Central clearing will need new laws, Isda report finds
New laws will be needed in the US and Europe to support the introduction of central clearing of credit default swap (CDS) trades, according to a study published yesterday by the International Swaps and Derivatives Association.
CDS: Spreads narrow slightly; US earnings eyed
Credit default swap 5-year mid-levels for structured products issuers (July 10)
US Wrap: Wells Fargo makes surprise return to reverse convertibles
Wells Fargo has launched four new reverse convertibles in the US, packaged with the external credit of Eksportfinans. The bank used to be one of few institutions that held a triple-A rating, which has now been downgraded to Double A.
S&P expands custom index business to fixed income and commodities
Standard & Poor's is expanding its custom index business beyond equities, currencies and real estate as client demand increases for non-correlated asset classes. The index provider will now be able to construct offerings based on commodities and fixed…