Structured products
MSCI Barra adds to thematics with agriculture and food chain indexes
Index provider MSCI Barra has launched the MSCI Agriculture and Food Chain indexes, equity-based indexes designed to measure the performance of the various components of the agriculture and food industries, from production through to distribution.
Basel Committee releases incremental risk charge proposal
The Basel Committee on Banking Supervision today released revised proposals for the charging of capital for incremental risk in the trading book. The new rules, developed in conjunction with the International Organisation of Securities Commissions, are…
New GSE legislation to be approved by end of week
Sweeping new legislation empowering the US Treasury to provide Fannie Mae and Freddie Mac with virtual carte blanche to access to government lines of credit could be approved by Congress as soon as the end of this week, Treasury secretary Hank Paulson…
FTSE & JSE expand sharia offering
Index provider FTSE and South African securities exchange the Johannesburg Stock Exchange (JSE) have launched the FTSE/JSE Shariah Top 40 index, which is designed to provide exposure to sharia-compliant companies from the Shariah All-Share Index. The…
Dow Jones offers infrastructure securities
Dow Jones Indexes and asset manager Brookfield Asset Management have launched the Dow Jones Brookfield Infrastructure Indexes, which are designed to provide exposure to companies that are the owners and operators of infrastructure assets such as toll…
ABN launches Islamic agriculture certificate
ABN Amro has launched the Islamic Agriculture basket Yield Discovery Certificate, which is designed to provide exposure to a basket of sharia-compliant agricultural stocks selected from the Dow Jones Islamic Market World Index.
ABN Amro offers Asian sovereigns
ABN Amro in Singapore has launched the Power Asian Sovereign note, a first-to-default (FTD) credit-linked note offering exposure to a basket of Asian sovereigns. The note is a private placement in Indonesia.
Rabobank launches Fastracks index series
Rabobank Hong Kong has launched two new food and agribusiness equity-linked indexes, which provide exposure to both Asian and global food and agriculture companies. The indexes are part of the Rabo Fastracks Index Series and the bank plans to issue…
HSBC launches FTSE and EM products to UK IFA market
HSBC has launched two new plans for the UK independent financial adviser (IFA) market. The plans offer exposure to either the FTSE 100 index or emerging market equity.
Bank of America digests writedowns to post $3.41bn profit
Bank of America (BofA) posted profits of $3.41 billion for the second quarter, despite recording combined writedowns of $4.84 billion in its credit book and elsewhere for the same period.
UK bank rights issues flop as Citi announces $7 billion writedown
Multi-billion-pound rights issues by two major UK banks produced disappointing results this weekend, as US giant Citigroup announced $7.2 billion in writedowns on its subprime, monoline and commercial real estate exposures.
CBOE launches crude oil volatility index
Chicago Board Options Exchange (CBOE) has launched the CBOE Crude Oil Volatility Index (OVX).
Merrill Lynch startles market with end-of-day news on losses
Merrill Lynch waited until trading had closed in New York yesterday to announce quarterly losses of $4.7 billion, including $9.1 billion writedowns on its structured product, monoline and mortgage exposures.
Cheyne assets disappoint in rescue auction
The auction of the first portion of assets in SIV Portfolio, formerly known as Cheyne Finance, took place this week, but the assets sold at just 44% of par value - well below analyst predictions.
Keydata offers income or growth
Keydata Investment Services has launched the Extra Income Plan, which offers either an income or growth. The income option pays a quarterly coupon of 2.075% pa while the growth option returns 58.5% at maturity.
S&P outlines "stability" changes to structured product ratings
US rating agency Standard & Poor's has outlined its proposal to include credit stability in its rating process, which could see severe downgrades for many volatile structured credit products.
Banks and hedge funds spur growth in OIS
Central bank activity has contributed towards a surge in trading overnight index swaps (OIS) over the past year, according to dealers.