Structured products
FSA cracks down on CFD use
The UK Financial Services Authority (FSA) is seeking to tighten its disclosure rules on contracts for difference (CFDs), which it says could be used to "influence corporate governance".
BarCap aims swap indexes at LDI market
Barclays Capital has launched indexes of nominal and inflation swaps, aimed at pension managers following liability-driven investment (LDI) strategies.
JP Morgan launches commodity curve index
JP Morgan has launched its Commodity Curve Index (JPMCCI), a family of passive benchmark indices that are curve-neutral and diversified across a broad universe of commodities. The index captures investment opportunities across the futures curve while…
BNP Paribas lengthens commodity exposure with new index
BNP Paribas has launched a new commodity index designed to give investors exposure beyond short-term futures contracts. The Commodity Market Representative Index (CMRI) incorporates different maturity futures contracts for a basket of twenty-five…
Dresdner hit by credit crisis, but BNP sails through
Dresdner Bank, the banking arm of the German insurance group Allianz, has seen a sharp drop in income in the wake of the summer's upheavals, but BNP Paribas has been able to avoid the worst of the damage.
Hedge funds start to police themselves
Daily news headlines
Crowded trade increases turmoil again, say CROs
Daily news headlines
ETF Securities hits $2bn AUM mark on back of commodity boom
ETF Securities has pushed through the $2bn mark for assets under management (AUM), following massive growth of its exchange traded commodities. The provider has recorded an increase of 680% in 2007 alone, rising from $250m AUM at the end of 2006.
JP Morgan takes Choukroun from BNP Paribas to head product development
David Choukroun has joined JP Morgan as managing director and global head of product development for flow and exotic derivatives within its equity derivatives group. Choukroun will be based in London and report jointly to Cyril Levy-Marchal, global head…
Morgan Stanley and Merrill Lynch reveal billions more subprime damage
The subprime crisis continues to deepen as Morgan Stanley and Merrill Lynch, two of the worst-affected US banks, reveal further damage - and an SEC investigation into Merrill Lynch.
ING and SG avoid worst of subprime crisis
ING Bank and Société Générale have avoided the full effects of the subprime crisis that has led to multi-billion-dollar writedowns for other US and European banks.
Risk USA: Crowded trade increases turmoil again, say CROs
Chief risk officers from four major financial institutions argued that the distress in the financial markets has been partly caused by the concentration of money chasing too few trading ideas, when speaking on a panel at this year’s annual Risk USA…
Deutsche launches credit ETFs for European investors
Deutsche Bank is to launch three short-strategy iTraxx Exchange Traded Funds (ETFs) on its pan-European ETF platform, db x-trackers.
Risk USA: Hedge funds start to police themselves
Leading hedge funds are discussing two initiatives that aim to set new risk standards for the industry - one each from the US and Europe.
US Federal Reserve Board gives green light for Basel II
Daily news headlines
Short iTraxx funds begin trading
Three exchange-traded funds (ETFs) based on the total return of short European credit derivatives index positions begin trading this week.
Lehman Brothers signs up to Boat
Daily news headlines
El Asmar to head equity derivatives SG structured product sales
Société Générale Corporate and Investment Banking has appointed Marc El Asmar as head of equity derivatives structured products sales and distribution for Northern Europe.
RBS strikes back with second in Trilogy
RBS Global Banking & Markets has launched the second issue of its Trilogy product, a structured deposit account designed to offer exposure to international stock markets, the UK housing market and an interest rate.