Structured products
New York may up RGGI allowances
New York State may decide to allocate more allowances under the Regional Greenhouse Gas Initiative to ease the cost burden on compliance buyers, finds Pauline McCallion
Risk not seen as top priority by global investment management
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Deutsche Bank queues up certificate listings in Poland
Deutsche Bank has filed to list the eighth series of its Express Notes on the Warsaw Stock Exchange (WSE). The certificates are linked to the domestic Wig 20 index, which tracks Polish equity performance, and should list within the next week.
FTSE launches Asian sector indexes
Index provider FTSE has launched its Asian Sector Index Series, which comprises 18 pan-regional indexes designed to cover Asian equity markets by sector and market capitalisation.
Maybank launches autocall structured deposit
Malaysian distributor Maybank has launched its Autocall Structured Deposit (MASD) providing exposure to the Chinese equity market. The trade aims to participate in the recovery of a portfolio of stocks linked to China's infrastructure sector.
US Wrap: Barclays back with reverse convertibles
Barclays launched 11 reverse convertibles into the US market yesterday, its first significant chunk of issuance of the structure since its bumper day of 22 notes on March 19. The US equity-linked products constituted well over half of the 17 products…
S&P and Korea Exchange launch new indexes
Index provider S&P, in collaboration with the Korean Exchange (KRX), has launched two indexes: the S&P/KRX Asia 100 and Exchanges indexes, which are the first since S&P and KRX announced a partnership in September last year, and are designed to underlie…
CDS: Bank spreads narrow after Wednesday's widening
Credit default swap 5-year mid-levels for structured products issuers (Thursday April 2)
G20 fires starting gun on global systemic risk regime
A declaration by the Group of 20 leading economies (G20) fleshed out plans for a global regime of systemic risk regulation, “covering regulated banks, shadow banks and private pools of capital to limit the build-up of systemic risk”.
US Wrap: JP Morgan interrupts US equity whitewash with China note
In a day dominated by exposure to US equity, JP Morgan took investors in a different direction by offering a note linked to Chinese blue chip companies. The product is a two-year autocallable note linked to the iShares FTSE/Xinhua China 25 Index fund,…
Accounting boards: Spain's dynamic provisioning not the way forward
International accounting standard setters have warned that accounting for dynamic provisioning – rainy-day funds banks build up in good times to absorb losses in economic downturns – should not be recorded against profit and loss (P&L), as it is in Spain.
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Editorial
CDS: Spreads widen on both European and US financials
Credit default swap 5-year mid-levels for structured products issuers (Wednesday April 1)
US Wrap: Goldman Sachs appears as both issuer and underlying
Goldman Sachs issued three products into the US market yesterday using its own paper, while simultaneously appearing as the stock underlying for a reverse convertible launched by JP Morgan. Goldman unveiled three accelerated growth products, bringing the…
The end for ETNs?
The bankruptcy of Lehman Brothers has hammered home the importance of counterparty risk, fuelling dire predictions for the future of exchange-traded notes. But while some product issuers are retreating from the area, others remain optimistic. By Mark…
Structural shifts
The volume of structured products has declined dramatically over the past 12 months. With equity prices collapsing, some of those that are still investing are focusing on capital-guaranteed, income-generating structures. But do these products represent…
Massachusetts charges Fairfield Greenwich for "profound" due diligence failings
The Commonwealth of Massachusetts has charged New York-based hedge fund Fairfield Greenwich Group over allegations of a "profound disparity" between the due diligence the firm told investors it had conducted into Bernard Madoff, and the actual checks it…
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