Structured products
Db x-trackers launches first regional sharia-compliant ETFs on the LSE
Db x-trackers, the exchange-traded fund (ETF) arm of Deutsche Bank, has listed the first regional sharia-compliant ETFs on the London Stock Exchange (LSE). The new db x-trackers include the S&P 500 sharia ETF, the S&P Europe 350 sharia ETF and the S&P…
Société Générale offers credit exposure
Société Générale has launched a new product offering exposure to the credit default swaps of speculative-grade companies. The investment is linked to the number of defaults in the iTraxx five-year Crossover Index.
Lehman Brothers launches second issue of Kick Out Performance Plan
Lehman Brothers has launched the second issue of its five-year Kick Out Performance Plan, with two options linked to the FTSE 100 index. One option offers an annual kick-out providing 14% and the other option offers a six-month kick-out, potentially…
Dow Jones Brazil Titans 20 ADR Index licensed to underlie ETFs
Dow Jones Indexes has licensed its Brazil Titans 20 ADR Index for the first time as an underlying for an exchange-traded fund (ETF) in South Korea. The index measures the American Depository Receipt (ADR) prices of the 20 largest, most liquid Brazilian…
Nasdaq launches Ireland index
Index provider Nasdaq OMX has launched the Nasdaq OMX Ireland Index, a modified market-capitalisation weighted index which provides exposure to the largest and most liquid Irish companies that are listed on an eligible global exchange. The index has been…
Keydata reverts to capital protection
Keydata Investment Services has unveiled the six-year 100% Capital Protected Growth Plan Issue one, its first 100% capital-protected product launched in five years. The plan offers 109.5% of any growth in the FTSE 100 index during its term, with no…
Further monoline downgrades likely
Moody's has put the last two remaining 'legacy' monoline insurers to maintain a Aaa rating - Assured Guaranty and Financial Security Assurance (FSA) - on watch for a downgrade.
New York sues UBS for alleged auction rate securities fraud
UBS executives sold off $21 million in personal auction rate securities (ARS) holdings just days before the market ground to a halt, while continuing to market the securities to unwitting consumers, a New York State lawsuit has alleged.
SG speculates on credit
Société Générale has reported increased interest in unleveraged long credit trades based on the iTraxx Crossover Europe index.
Arc unveils income plan offering 9% or 7.5%
Arc Capital & Income has launched its five-year Fixed Income Plan 7, which offers an annual income of 9% for the higher income option or 7.5% for the cautious option. Both the options are linked to the FTSE 100 index and offer the possibility of a…
ING unveils principal protected oil-linked fund in Thailand
ING is launching a new principal protected fund in Thailand, linked to the performance of the Nymex WTI Crude Oil Index. The fund was due to float yesterday, but has been delayed as the bank waits for the final approval on the index from Thai regulator…
Newcastle Building Society unveils intermediary service and range of products
Newcastle Building Society has launched its Newcastle Intermediaries Services (IS) designed for intermediary networks and independent financial advisors (IFAs). The new savings and lending brand offers a range of deposit-based savings products, including…
MSCI Barra adds to thematics with agriculture and food chain indexes
Index provider MSCI Barra has launched the MSCI Agriculture and Food Chain indexes, equity-based indexes designed to measure the performance of the various components of the agriculture and food industries, from production through to distribution.
Basel Committee releases incremental risk charge proposal
The Basel Committee on Banking Supervision today released revised proposals for the charging of capital for incremental risk in the trading book. The new rules, developed in conjunction with the International Organisation of Securities Commissions, are…
New GSE legislation to be approved by end of week
Sweeping new legislation empowering the US Treasury to provide Fannie Mae and Freddie Mac with virtual carte blanche to access to government lines of credit could be approved by Congress as soon as the end of this week, Treasury secretary Hank Paulson…
FTSE & JSE expand sharia offering
Index provider FTSE and South African securities exchange the Johannesburg Stock Exchange (JSE) have launched the FTSE/JSE Shariah Top 40 index, which is designed to provide exposure to sharia-compliant companies from the Shariah All-Share Index. The…
Dow Jones offers infrastructure securities
Dow Jones Indexes and asset manager Brookfield Asset Management have launched the Dow Jones Brookfield Infrastructure Indexes, which are designed to provide exposure to companies that are the owners and operators of infrastructure assets such as toll…
ABN launches Islamic agriculture certificate
ABN Amro has launched the Islamic Agriculture basket Yield Discovery Certificate, which is designed to provide exposure to a basket of sharia-compliant agricultural stocks selected from the Dow Jones Islamic Market World Index.
ABN Amro offers Asian sovereigns
ABN Amro in Singapore has launched the Power Asian Sovereign note, a first-to-default (FTD) credit-linked note offering exposure to a basket of Asian sovereigns. The note is a private placement in Indonesia.
Rabobank launches Fastracks index series
Rabobank Hong Kong has launched two new food and agribusiness equity-linked indexes, which provide exposure to both Asian and global food and agriculture companies. The indexes are part of the Rabo Fastracks Index Series and the bank plans to issue…
HSBC launches FTSE and EM products to UK IFA market
HSBC has launched two new plans for the UK independent financial adviser (IFA) market. The plans offer exposure to either the FTSE 100 index or emerging market equity.
Bank of America digests writedowns to post $3.41bn profit
Bank of America (BofA) posted profits of $3.41 billion for the second quarter, despite recording combined writedowns of $4.84 billion in its credit book and elsewhere for the same period.
UK bank rights issues flop as Citi announces $7 billion writedown
Multi-billion-pound rights issues by two major UK banks produced disappointing results this weekend, as US giant Citigroup announced $7.2 billion in writedowns on its subprime, monoline and commercial real estate exposures.
CBOE launches crude oil volatility index
Chicago Board Options Exchange (CBOE) has launched the CBOE Crude Oil Volatility Index (OVX).