Structured products
T Boone launches wind power plan
Texas oilman T Boone Pickens has launched a plan to address the United States’ dependence on foreign oil by aiming to generate at least 20% of the nation’s energy supply through wind power.
Q&A: Regulator calls for greater insurance against liquidity risk
Arthur Angulo, senior vice-president of banking supervision at the Federal Reserve Bank of New York and co-chair of the Basel Committee on Banking Supervision’s Working Group on Liquidity, talks to Risk about recent initiatives to improve liquidity risk…
US mortgage lender closes doors after capital warning
Indymac Bancorp, one of the largest mortgage providers in the US, closed its doors to new business and announced deep job cuts yesterday, blaming the continuing crisis in the mortgage-backed securities market.
Quant Congress: Gaussian copula "failing dramatically" in pricing CDOs
Gaussian copula distribution models are an overly simplistic and inadequate means of valuing tranches of collateralised debt obligations (CDOs) and other structured products, warned a senior quant yesterday.
SEC streamlines rules for self-regulation
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New lobby group to defend securitisation markets
As pressure for reform in the securitisation market grows, three regional industry lobbying groups - the American Securitisation Forum (ASF), the European Securitisation Forum (ESF) and the Securities Industry and Futures Markets Association (Sifma) -…
Barclays unveils Guaranteed Deposit Accounts in Offshore Bonds range
Barclays Capital has launched two products as the latest offering in its Structured Deposit Series for Offshore Bonds range. The five-year World Equity Deposit Account offers protected exposure to a basket of four equally-weighted indexes, comprising the…
ABS new issuance increases 158%
Asset-backed securities (ABS) issuance for the second quarter has increased 158% compared with the first quarter, according to London-based data provider Xtrakter.
More writedowns coming at UBS
UBS will report more writedowns in its second-quarter results, due on August 12, the Swiss bank warned today.
Basel committee outlines reforms for rating agencies
The Committee on the Global Financial System (CGFS) – a group affiliated with the Bank for International Settlements that monitors developments in financial markets for the G10 countries – released on July 4 its findings on failures in structured finance…
Barclays Wealth enhances rates on investment range
Barclays Wealth is launching a range of capital protected investments with improved terms on growth and income products, which are designed to maximise returns in volatile markets. The Protected FTSE Plan offers 1.5 times the rise in the FTSE 100 index…
TriOptima prepares to face Isda-backed rival
The new credit derivatives tear-up service announced by Isda yesterday will use a more flexible method of simplifying credit portfolios - but established provider TriOptima in Stockholm disputes it will be any better than its own service.
Cheyne auction reflects harsh reality for SIVs
An expected restructuring of the assets of defunct structured investment vehicle (SIV) Cheyne Finance later this month underlines the harsh reality faced by many investors in the vehicles, who are likely to get little or none of their money back.
European paper issued on improving securitisation transparency
Daily news headlines
HSBC goes global on agriculture
HSBC Global Banking and Markets has launched the HSBC Optimised Global Agriculture index, which is designed to provide exposure to companies involved in businesses related to the cultivation of crops and plants. The index will be used as a basis for…
S&P gauges Gulf
Index provider Standard and Poor’s has launched the S&P GCC 40 index, which is designed to provide exposure to 40 of the largest and most liquid companies on the primary exchanges in Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates (UAE). The…
Nasdaq OMX offers wind energy
Index provider Nasdaq OMX and research firm Clean Edge have launched the Nasdaq OMX Clean Edge Global Wind Energy index, which is designed to provide exposure to companies that are primarily manufacturers, developers, distributors, installers and users…
GFI introduces Nymex CAPP
Inter-dealer broker GFI has introduced a Nymex look-alike Central Appalachian (CAPP) coal contract that can be cleared via Nymex Clearport.
Barclays Capital launches US power index
Barclays Capital, the investment banking division of Barclays Bank PLC, has launched the first US national benchmark index for power prices.
Absolute Alpha Fund PCC Diversified: Financial Risk Management
2008 European Fund of Hedge Fund Awards - Best long-term achievement in diversified fund of hedge funds (over 10 years): Highly commended
Convertible arbitrage falls out of favour as market confidence falters
Convertible arbitrage
Special situations strategy benefits from volatile economic conditions
Special Situations