Structured products
Barclays launches new Defined Returns plan
Barclays Wealth has launched the latest version of its Defined Returns Plan which is designed to offer three return options.
NDFA doubles options with new kick-out plan
NDF Administration has launched a new dual option structured product. The Twin Option Kick Out December ’07 offers investors a choice between linking to the FTSE 100 alone or adding the Nikkei 225 index for potentially higher returns.
Barclays launches global carbon index
Barclays Capital, the investment banking arm of Barclays Bank, has launched the Barclays Capital Global Carbon Index (BGCI) which tracks the performance of the carbon credits associated with major global greenhouse gas emissions trading schemes.
HSBC offers Saudi exposure to offshore investors
HSBC Corporate, Investment Banking and Markets has launched a new Saudi Equity Index. The index is designed to be a benchmark for the Saudi equity market, and will include 36 liquid stocks. The stocks included will cover a wide range of Saudi economic…
UBS reports further $10 billion subprime writedowns
In its revised fourth-quarter outlook, UBS has changed its prediction for its results from profit to loss. This includes additional writedowns of $10 billion related to US subprime mortgage exposures.
SIV pain resurfaces through ratings
Moody’s Investors Service has taken negative action on 20 structured investment vehicles (SIVs). The action came as the first part of a sector review started at the beginning of last month by the rating agency.
Rabobank bails out Tango SIV
Rabobank has agreed to take the assets of Tango Finance, a structured investment vehicle (SIV) it sponsors, on to its balance sheet. The Dutch bank plans to do this in early 2008 to prevent a potential fire sale of the SIV’s high-quality assets.
BarCap launches global carbon index
Barclays Capital has unveiled an index intended to be a benchmark for the rapidly growing carbon-trading markets.
Barcap launches global carbon index
Barclays Capital has launched a global carbon index, which tracks the performance of carbon credits in major emissions trading schemes.
Standard Chartered takes $46 million profit hit
Market turmoil has dented Standard Chartered’s profits by $46 million, after the bank exchanged $140 million of capital notes for a vertical slice of the assets of its Whistlejacket structured investment vehicle (SIV).
More subprime legislation on the way
Daily news headlines
Open outcry fading away as Nymex fends off rivals
New York Mercantile Exchange (Nymex) chairman Richard Schaeffer said today that 80% of the exchange’s business is now done electronically, as the open outcry trading floor becomes “less and less meaningful”. He also outlined ambitious plans for 2008, and…
Commodity investor sophistication increasing, says Barclays Capital
A survey of 150 Barclays Capital clients has found that half expect to have more than a 10% exposure to commodities in their portfolios, a threefold increase from a similar poll carried out in 2005.
FSA to lenders: prepare for the worst
The UK Financial Services Authority's director of retail markets, Clive Briault, warned mortgage lenders yesterday they should prepare for market conditions to worsen still further in the year ahead.
BNP Paribas launches three basket linked fund for French investors
BNP Paribas has launched a new collective investment fund for retail investors in France. The Panka is capital guaranteed and linked to the performance of three separate index baskets which offer both mainstream and emerging market exposure.
S&P and Tokyo Stock Exchange expand sharia family in Japan
S&P and Tokyo Stock Exchange have jointly launched a new Japanese sharia equity index, the S&P/Topix 150 Shariah, which is designed to optimise exposure to leading companies in the leading industries of the Japanese economy.
Lehman: potential for EM contagion overlooked
Credit market turmoil caused by bad US subprime mortgages could be transmitted to emerging market economies through domestic bank lending – a “vehicle for contagion that has been overlooked,” according to recent research by Lehman Brothers.