Structured products
Icap expands equity presence by buying Link
UK interdealer broker Icap will pay up to £250 million to buy Link, an equity derivatives broker based in London.
Wing Hang Bank opts for Misys Summit FT
Wing Hang Bank in Hong Kong has agreed to install technology vendor Misys’ Summit FT treasury and capital markets software in response to increased demand for structured products from private wealth management clients, corporates and the retail market.
HSBC offers emerging titans
HSBC Global Banking and Markets has launched the Optimised Global Emerging Markets (Gem) Titans Index, which is designed to provide exposure to the largest companies in major emerging markets economies. The index is designed to underlie financial…
Barclays launches carry trade strategy ETN
Barclays Bank has launched the Optimised Currency Carry Exchange Traded Note on the NYSE-Arca Stock Exchange, which is designed to provide exposure to the Barclays Intelligent Carry Strategy Index which seeks a return by investing in high-yielding…
OCBC aims for agri-property outperformance
OCBC Bank in Malaysia has launched the Agri-Property Outperformance floating-rate instrument of deposit, a 100% principal protected product that measures the out-performance of six international agribusiness stocks against the iShares Dow Jones US Real…
UBS launches second ETN platform of the week
UBS has become the eighth bank to launch an exchange-traded note (ETN) platform in the US. It listed eight notes on the Arca platform of the New York Stock Exchange today.
SG Index catapults into carbon credits
Société Générale Index (SGI) and carbon expertise firm Orbeo have launched the SGI Orbeo Carbon Credit Index, which is designed to give institutional investors, asset managers and private banks direct access to carbon.
Invesco PowerShares launches two ETFs on Nasdaq
Invesco PowerShares Capital Management has unveiled two exchange traded funds (ETFs) on the Nasdaq stock market. The PowerShares Nasdaq NextQ Portfolio tracks the Nasdaq Q-50, a market-capitalisation weighted index comprising 50 securities, which are due…
Retail investors hold key to Canadian ABCP restructuring
A vote on the Montreal Accord, the proposal to restructure C$33 billion (US$32.7 billion) of distressed non-bank Canadian asset-backed commercial paper (ABCP), is due on April 25. But with all votes counted as equal, satisfying the demands of…
Paulson regulatory shakeup looks unlikely
US Treasury secretary Hank Paulson’s long-awaited proposals to overhaul the US financial regulatory system have received a tepid response from the market, which is enthusiastic about the intent of the proposals but sceptical that they will ever be…
Credit Suisse latest to join US ETN crowd
Credit Suisse has launched the first note from its new Elements exchange-traded note (ETN) platform. The notes began trading on the Arca platform of the New York Stock Exchange yesterday.
Natwest International launches guaranteed structured deposit account
Natwest International Personal Banking (IPB) has launched Autopilot, a guaranteed structured deposit account. The capital-protected Autopilot tracks the performance of four market sectors when rising and switches to cash if sustained falls are noted…
Ex-Abbey team to launch structured products at Investec
Investec Capital Markets is creating a new structured products retail business as the UK market continues to expand. The unit will be headed up by Gary Dale, who was responsible for Abbey’s Independent Financial Adviser (IFA) business until last month.
Weaker oil prices ahead, says Lehman
A series of “new fundamental factors” have buoyed oil prices in 2008, but various physical and financial indicators suggest weaker prices to come, Lehman Brothers’ senior energy economist said today at a briefing in New York.
Worldwide investment banking revenues down 45% for Q1
Global investment banking revenues plummeted to $12.5 billion in the first quarter of 2008, a 45% decrease over the past 12 months and down 42% from the end of 2007, according to a report published on April 2 by London-based data provider Dealogic.
Arc moves to calm fears over Bear credit risk
Arc Capital & Income has reassured investors and advisors over products backed by beleaguered US investment bank Bear Stearns. Following the move, JP Morgan has issued a broad guaranty that covers all of Bear's existing and subsequent trading activities,…
Moody’s bids to improve RMBS process
As the US subprime mortgage crisis shows little signs of relenting and few new securitisations are coming to market, the process of identifying what went wrong and how future calamities might be prevented has commenced.
CS indicative market data
Data by Credit Suisse
Editor's letter
Editorial
Flight to simplicity
Conference report: Spain
Merrill launch frontier certificate
Merrill Lynch has launched the ML Frontier Index Certificate which is designed to provide exposure to the ML Frontier Index, which was launched earlier this month. (See SP Breaking News 6 March 2008). The certificate is a delta-1 tracker.
Barclays launches five new global and emerging markets ETFs
Barclays Global Investors (BGI) has launched five new international Exchange Traded Funds (ETFs). The iShares MSCI Israel, Thailand and Turkey Index Funds, listed on NYSE Arca, are the first ETFs to offer exposure to these markets, while the MSCI All…