Structured products
Iosco joins call for offshore crackdown
The International Organisation of Securities Commissions (Iosco) has joined calls for new capital rules to enforce transparency on offshore financial centres.
Turner report published
Daily news headlines
UBS names new Asia heads as Park and Pang depart
UBS has announced a series of appointments to the most senior roles in its equity derivatives business in Asia. The changes, which were announced this morning in Hong Kong coincide with the departure of Min Park, managing director, head of Equity Risk…
US Wrap: Barclays and ABN pile into reverse convertibles
Barclays Bank and ABN Amro bombarded the US market with reverse convertible notes yesterday, launching 20 of the products between them. It was ABN's first appearance of the week, and its first significant swathe of issuance since mid-February. It…
Blue Sky gets defensive with latest autocallable
Blue Sky Asset Management has launched the third tranche of its FTSE-linked kick-out product. The Capital Accumulator Auto-Call Plan - Defensive Series III, which lasts six years, redeems on its first anniversary with a 7% return, provided that the FTSE…
Fed increases security purchase plans
In an effort to resuscitate private credit markets, the Federal Open Markets Committee stated today that it would purchase up to $300 billion in long-term US Treasury securities over the next six months.
Derivatives counterparties shun Ford and GM
Few banks are now willing to enter derivatives trades with Ford and General Motors, leaving the struggling car manufacturers exposed to further risk.
US Wrap: Market snaps into action to kickstart week
The US market sprang to life yesterday, offering 10 new products, the majority of which were reverse convertibles, with Barclays Bank using the structure to give investors exposure to three different commodities: gold, silver and oil, each represented by…
CDS: Spreads remain stable on European and US banks
Credit default swap 5-year mid-levels for structured products issuers (Tuesday March 17)
China publishes new derivatives master agreement
The Chinese National Association of Financial Market Institutional Investors (Nafmii), a trade association set up by the People's Bank of China (PBOC), has published a new master agreement for trading, settlement and netting of onshore derivatives traded…
CDS: Spreads narrow on financials, Morgan Stanley tightens 10%
Credit default swap 5-year mid-levels for structured products issuers (Monday March 16)
CME’s CDS platform approved
The Chicago Mercantile Exchange Group (CME) received the green light from the Securities and Exchange Commission (SEC) on March 13 to clear credit default swaps (CDSs), but now faces the hard task of getting customers to sign up to its platform.
IIF submits policy letter to G-20; launches MMG
Daily news headlines
CDS: Spreads on US financials narrow
Credit default swap 5-year mid-levels for structured products issuers (Friday March 13)
US Wrap: Reverse convertibles regain their sparkle
Reverse convertibles made their first appearance of the week in the US market, linked to a myriad of underlyings including the Diamonds Trust. Review products were also in the assortment, ending several days of dominance by accelerated growth products.
Commodities on Bclear from March 30
Exchange NYSE Liffe will offer clearing for a range of soft and agricultural commodity products on its over-the-counter (OTC) trade confirmation, administration and clearing platform Bclear on March 30. Bclear was launched in 2005 and currently offers…
CME Group one step closer to CDS clearing
US exchange operator Chicago Mercantile Exchange (CME) Group has come one step closer to entering the credit derivatives market by signing a deal to clear credit default swaps (CDSs) on financial information services company Markit's CDX and iTraxx…
Arc looks East with Russian product
Arc Capital and Income has unveiled a new product for UK investors linked to Russian companies trading on the London Stock Exchange. The product began as a bespoke offer for advisory firms and is now being rolled out to retail clients with a minimum…
CDS: UK bank spreads widen
Credit default swap 5-year mid-levels for structured products issuers (Thursday March 12)
US Wrap: Accelerated growth dominates again as exposure stays narrow
Accelerated growth products continued to be the dominant theme in the US yesterday, although four days of consecutively exclusive issuance of the structure were broken as one principal protected was launched. Exposure was resolutely narrow, with all six…
Deutsche Bank launches ETF of hedge funds
Deutsche Bank has launched an exchange-traded fund (ETF) giving investors direct access to hedge funds through a managed account platform for the first time. The product was scheduled for release in January but had been delayed.
Solar Power - Dark times for solar power
This year looks tough for solar power, with Spain, the largest market in 2008, capping new production. Finding private financing is harder, making clear feed-in tariff policies essential, finds Vanya Dragomanovich
US wind power - Finding funding
After record growth last year, US wind power is facing a funding squeeze as tax-related investment dries up. Pauline McCallion asks whether Government initiatives can buoy the sector through the economic downturn
Stimulus targets US transmission issues
Obama's stimulus plan will put key infrastructure in place to support the continued growth of renewable energy in the US, finds Pauline McCallion