Structured products
'Improvement in market conditions' sees Fed cut bank aid
The US Federal Reserve Board has cut back several of the support facilities put in place over the past 18 months, arguing the recovery of the financial markets has made them unnecessary.
Bank of England calls for "credible threat of closure"
In its latest Financial Stability Report, released today, the Bank of England has emphasised the need for banks to face "a credible threat of closure", and recommended higher capital and liquidity reserves.
Iosco recommends compulsory registration of hedge funds
Daily news headlines
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…
SEC to tighten rules on money market funds
Money market funds, the retail investment funds which exacerbated the effects of the financial crisis in September last year, are to come under far stricter oversight, under draft rules announced by the US Securities and Exchange Commission on June 24.
Rise in inflation coming as rates remain low, BarCap predicts
Inflation is set to rise in late 2009 and 2010, driven by rising commodity prices and low central bank rates, according to research from Barclays Capital, released on June 25.
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.
US Wrap: Single note offers exposure to international equity
Another single note was released into the US market yesterday, continuing the slow pace of issuance for the week. The product was issued by Bank of America and gives exposure to the MSCI Eafe Index, which tracks the performance of international equity.
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…
Risk Derivatives Summit : balance sheet reform is essential
Runaway credit growth was at the root of the crisis, and regulatory reform must start by clamping down on it, John Greenwood, chief economist at Invesco in London, told the Risk Derivatives Summit audience yesterday.
Risk Derivatives Summit : Transparency not a cure-all
Moves to increase transparency and simplicity in the derivatives market might have some benefit, but are certainly not the single remedy needed after the financial crisis, according to panellists at the Risk Derivatives Summit in London yesterday.
Basel changes could "kill off correlation trading”
Proposed changes to the Basel II Accord’s trading book regime, due in early July, will make correlation trading uneconomical unless a compromise can be found, say dealers.
Iosco recommends compulsory registration of hedge funds
Hedge funds and fund managers should be subject to mandatory registration and an international system of oversight should be established for the hedge fund industry, the International Organisation of Securities Commissions' (Iosco) Technical Committee…
US Wrap: Bank of America follows RBC lead to Japan
Bank of America has launched an accelerated growth note linked to the Nikkei 225 index, following the issuance of a note 10 days ago by Royal Bank of Canada which tracked the Japanese equity benchmark as one of three indexes in a basket.
Dubai to price physical oil against DME Oman futures
Dubai Mercantile Exchange (DME) has confirmed that the Dubai Department of Petroleum Affairs (DPA) will set its official monthly selling price (OSP) for physical crude based on a differential to the settlement price of the DME's Oman Crude Oil Futures…
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,…
Meteor launches Prima Growth Plan 16
Meteor, the UK distributor, has launched the sixteenth version of its Prima Growth Plan which has been issued by AAA-rated Rabobank. The kick-out style product has the potential to pay a 10% coupon after one year, paying the return on its first…
CDS: Spreads narrow ; market eyes economic data
Credit default swap 5-year mid-levels for structured products issuers (June 19)