Structured products
DDQ unveils Global Water Portfolio
Dawnay Day Quantum (DDQ) has launched its six-year Global Water Portfolio, offering 100% uncapped participation in the S&P Global Water index. The index invests in 47 companies involved in water related businesses and tracks two types of water companies,…
Lyxor AM launches first ETF on Gulf region
Lyxor Asset Management, the exchange-traded fund (ETF) arm of Société Générale, has launched the first ETF focusing on Kuwait in collaboration with Coast Investment and Development Company, on the London Stock Exchange.
SEC extends short-selling ban as hunt for rumour mongers intensifies
The US Securities and Exchange Commission (SEC) has extended its order prohibiting short-selling activity for another two weeks, as the regulator narrows its investigation into the source of market-manipulating rumours.
Merrill raises yet more capital after Q2 losses
Merrill Lynch is selling $6.7 billion of collateralised debt obligations (CDOs), terminating hedges on CDOs and undertaking a $8.5 billion public stock offering to raise capital.
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…