Structured products
S&P launches first real-time currency indexes
S&P has launched the first real-time currency indexes, the S&P Chinese Renminbi index and Indian Rupee index, which are designed to provide exposure to emerging economic countries that currently lack a liquid currency futures market.
Kirnon: Agencies and banks can do more for transparency
Both rating agencies and banks can do more to meet investor demand for greater transparency in the structured credit market, said Noel Kirnon, New York-based head of global structured finance at Moody’s Investors Service.
JP Morgan to guarantee the trading obligations of Bear Energy
Following JP Morgan’s planned $2 per share acquisition of Bear Stearns after a run on the company ended 85 years of independence for the securities firm, the investment bank has moved to secure the trading obligations of Bear’s subsidiaries, including…
Nymex agrees “definitive” $9.4 billion merger with CME
CME Group, the parent company of the Chicago Mercantile Exchange (CME), is to acquire the New York Mercantile Exchange (Nymex) on terms that remain unchanged from CME’s original offer first put forward in January.
Fed will support securities market directly
The US Federal Reserve Bank will start backing primary securities dealers as well as banks through its discount in another attempt to stave off a general financial collapse, it announced yesterday.
Margin calls bring mortgage funds to their knees
Funds that invest in asset-backed securities (ABSs) are struggling to cope with hikes in margin calls from investors – and some are even collapsing.
US regulators tighten grip on mortgage lenders
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Fed bails out Bear Stearns
The Federal Reserve Bank of New York has stepped in to prevent insolvency at Bear Stearns, offering to provide liquidity through JP Morgan.
Sovereign wealth funds spark lively debate
At the Sovereign Wealth Management conference - hosted by Central Banking Publications in London on Thursday - calls for greater transparency by sovereign wealth funds were matched by demands from the funds themselves for fair regulatory treatment.
Standard swap-deliverable CCDS expected soon
A working group of about 10 major dealers and brokers could be just two months away from producing a standard contract for swap-deliverable contingent credit default swaps (CCDSs), predicted a person close to the group.
Moody's caves on muni bond ratings
In reaction to criticism of its double standard, credit rating agency Moody's will start rating municipal debt on the same scale as corporate debt, in a move that could make life easier for municipal issuers - but deprive the troubled monolines of a key…
New LevX series to debut
Markit has announced the launch of the Markit iTraxx LevX Series 2 leveraged loan index for European loans.
ETF Securities expands sales team for the UK, Ireland and Nordic regions
ETF Securities has expanded its sales team by appointing Emil Peterson as head of Nordic Sales and Neil Jaimeson as senior sales representative for the UK and Ireland. The move is a response to increasing investor demand for Exchange Traded Commodities …
First ETF in South Africa certified sharia-compliant
South African investment bank Absa Capital’s NewGold exchange-traded fund has been certified sharia-compliant, a first for a South African ETF.
Barclays Wealth launches new suite of investments
Barclays Wealth has launched a new suite of investments offering competitive pay-offs. The new suite, which is open between March 3 and April 30, is designed to attract rollover money from impending maturities and is attractive for ISA investors who want…
Central banks act again to preserve liquidity
Led by the US Federal Reserve, five central banks have announced measures to improve short-term liquidity as the financial sector remains short of funding.
UK pension funds not hedging as much as expected
Only 12.6% of UK pension funds surveyed by the Pension Protection Fund (PPF) use swaps to hedge interest and inflation risks.
International regulators release risk management report
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Clariden Leu opens in the Middle East
Clariden Leu has opened an asset management company in Dubai which will offer structured products. The Swiss private bank will not be promoting specific products that are only focused on Middle East markets, although may develop a specific product in the…