Structured products
UK financial sector feels pain of credit crisis
The UK financial industry will shed more jobs in the months ahead as the economic crisis deepens, and its effects have already cut bonuses and salaries sharply.
Iosco blames widespread credulity for credit crisis
Investors trusted credit ratings agencies too much, and the agencies themselves were too trusting of their clients, according to a white paper out this week from the International Organisation of Securities Commissions (Iosco).
Monolines - the nuclear option
XL Capital Assurance and Financial Guaranty Insurance Company (FGIC) face legal action by three banks after cancelling insurance contracts they had written on asset-backed securities transactions.
Barclays Wealth enhances Defined Returns Plan
Barclays Wealth has launched a new Defined Returns Plan linked to the FTSE 100 index, with an improved annual kick-out option and greater pay-offs for its three and five-year investment options.
Banks sued over ARS lockdown
Morgan Stanley, UBS, Merrill Lynch and Deutsche Bank have been named as defendants in the first wave of legal action by investors left holding illiquid auction rate securities (ARS).
Barclays Wealth to cut short Guaranteed FTSE Account
Barclays Wealth has announced that it will discontinue its tax-free, six-year Guaranteed FTSE Account on April 4 due to changes in Isa rules.
Bank Leumi launches agricultural structured deposit
Bank Leumi of Israel has launched a structured dollar deposit designed to provide exposure to a basket of agricultural commodities.
JP Morgan raises Bear Stearns offer to $1.18 billion after shareholder unrest
JP Morgan has raised its proposed purchase offer for Bear Stearns to $10 a share in a move designed to assuage the anger of Bear shareholders incensed by JP’s initial offer of just $2 a share.
Deutsche Bank launches first short sector ETFs
Db x-trackers, the Exchange Traded Fund (ETF) arm of Deutsche Bank, has launched the first ETFs on short sector indexes in Europe. The five ETFs are linked to the Dow Jones Stoxx 600 short sector indexes and offer short or inverse exposure to European…
Dow Jones launches new single commodity sub-indexes
Dow Jones Indexes and AIG Financial Products have launched the Dow Jones AIG Platinum, Lead and Tin Sub-Indexes. The indexes have been licensed to ETF Securities, London-based provider of exchange traded commodities.
Credit Suisse sacks traders involved in mispricing
Credit Suisse has sacked or suspended the traders behind the mispricing that cost it a $2.65 billion writedown last month.
ETF Securities expands research team with new hire
ETF Securities has hired Nicholas Brooks as head of Research and Investment Strategy. Brooks previously worked as senior economist and market strategist based in London at Henderson Global Investors, a strategy and asset allocation team. Prior to this,…
NDFA launches capital secure fixed growth plan
NDFA, provider of structured products in the UK, has launched the five-year Capital Secure Fixed Growth Plan March 08 offering a 45% fixed return. The plan, which provides full return of capital, is linked to the FTSE 100 and offers 45% return without…
ETF Securities launches 33 leveraged ETCs and 4 new commodities
ETF Securities has launched 33 leveraged Exchange Traded Commodities (ETCs) and four new commodity indexes, comprising cocoa, lead, tin and platinum. The new ETCs are available on the London Stock Exchange (LSE) and add to the total of 110 ETCs created…
Barclays stockbrokers launches FTSE linked investment note
Barclays stockbrokers has launched the five-year FTSE 100 Accelerated Return Investment Note. The note is linked to the performance of the FTSE 100 index, and is traded on the London Stock Exchange. It offers a one-off return equal to 75% at maturity if…
Barclays Stockbrokers launches new income investment note
Barclays Stockbrokers has launched the Regular Income Investment Note, linked to the performance of the FTSE 100 index. The five-year note offers quarterly income payments equivalent to 7% gross per year.
BNP Paribas launches collective investment fund
BNP Paribas has launched the second in the Volluto series of capital guaranteed collective investment funds for retail investors in France. The fund, known as a fonds commun de placement (FCP), is designed to offer a 7.7% annual return throughout its two…
Lehman launches two new issues
Lehman Brothers has launched the Enhanced Returns Plan issue 3 and the new Enhanced Deposit Plan in conjunction with the ISA/plan manager DRL.
GSEs plan $2 trillion in US mortgage purchases
Fannie Mae, Freddie Mac and their regulator, the Office of Federal Housing Enterprise Oversight (OFHEO), have announced an initiative potentially worth $2 trillion to increase liquidity in the troubled US mortgage market.
Morgan Stanley offers new currency ETNs
Morgan Stanley has issued two new exchange traded notes (ETNs) linked to the Chinese Renminbi and the Indian Rupee. Each note will be listed on the Arca platform of the New York Stock Exchange (NYSE), and investment manager Van Eck Global will market the…