Structured products
US Wrap: Out comes Barclays again, with plethora of reverse convertibles
Barclays Bank's set of product offerings bloomed as the issuance week in the US as the week drew to a close. The UK bank produced a sequence of reverse convertibles that concentrated mainly on energy stocks, although with many other sectors represented:…
Risk Europe : ECB board member warns central banks against over-reaching on risk
As the European Central Bank announced a new programme to purchase up to €60 billion of euro-denominated covered bonds, ECB board member Jose Gonzalez-Paramo said central banks should not be taking on credit risk, in a keynote address at the Risk Europe…
US Wrap: RBC moots real estate rebound
Royal Bank of Canada has launched an accelerated growth note linking to the iShares Dow Jones US Real Estate Index. The bullish trade offers 300% participation in the index over only six months, up to a cap of 39%. It does not incorporate any downside…
Investor appetite for structured products returns, says deVere
Appetite for structured products has recently increased in the independent advisory market, says Nigel Green, CEO of UK-based firm deVere and partners, which has extended its distribution partnership with Deutsche Bank.
Pang and Park start at Credit Suisse
One of the worst kept secrets in the Asian structured products market was revealed to the public earlier today, when Credit Suisse confirmed the appointment of Ken Pang and Min Park as co-heads of equity derivatives and convertibles, Asia-Pacific. Pang…
CDS: Spreads widen for second day
Credit default swap 5-year mid-levels for structured products issuers (June 4)
NY Fed to push ahead with Talf for toxic MBS loans
The Federal Reserve Bank of New York is to push ahead with plans to open up the Term Asset-backed Securities Loan Facility (Talf) to purchasers of toxic commercial mortgage-backed securities (CMBS) and residential mortgage-backed securities (RMBS).
Convergence on securitisation is vital, ESF told
A prominent securitisation lawyer has criticised the lack of convergence between regulatory bodies with regard to securitisation regulation.
BIS: decline slowing on derivatives exchanges
Volumes continued to fall on international derivatives exchanges this year, but there are signs of recovery, according to the latest figures from the Bank for International Settlements (BIS), released today.
Investec Guaranteed FTSE Plan given facelift
Investec has changed the payoff profile of its Guaranteed FTSE 100 Plans, as part of the launch of its ninth collection of structured products covering investment, accumulation and income plans. The Guaranteed three-year FTSE 100 Plan 9 has two options…
US Wrap: JP Morgan launches kickout on gold equity fund
JP Morgan has unveiled a new autocallable note linked to the Market Vectors Gold Mining ETF. The 18-month investment will pay a coupon of 5.25-6.25% if the fund is at 100% of its initial level after three months. If not, the product will continue to its…
Commerzbank launches commodity index ETF
Commerzbank has launched a new exchange-traded fund which tracks its newly-launched proprietary commodity index on the Xetra platform of Deutsche Börse. The index, launched on May 11 2009, incorporates the 16 most liquid commodities from precious metals,…
FSA official warns banks off buying securitised products
Banks will have to review their motivations for buying securitised products, a leading official at the UK Financial Services Authority (FSA) has warned.
Toxic loan PPIP purchases postponed, feared dead
The purchase of distressed whole loans using taxpayer funds under the US Treasury's Public-Private Investment Program (PPIP) has been postponed, the Federal Deposit Insurance Corporation (FDIC) has announced, raising speculation that the scheme might be…
US Wrap: Short tenor and S&P 500 dominate
Three providers launched four products into the US market yesterday, all offering participation in the S&P 500 index's performance. None of the notes offer any tenor longer than two years, and one of the structures last only six months.
Forging an index
Efforts by BHP Billiton to create an iron ore index appear to be floundering as Chinese steel producers press hard for pricing advantage. Kathleen Kearney reports
OMG commits to new clearing and reporting targets
The Operations Management Group (OMG) on June 2 outlined its latest targets to improve the operational infrastructure of the over-the-counter derivatives industry.