Structured products
The consulting conundrum
Gone are the Y2K days, when consultancies could exploit their strong positions and bill their clients big money for questionable services. The roles have been reversed for financial services firms, and consultancies are having to back up their ‘smoke and…
Singapore’s UOBAM manages third synthetic CDO
Singapore’s UOB Asset Management (UOBAM) has once again moved into the synthetic collateralised debt obligation (CDO) market, managing its third transaction deal in eight months. This time, Goldman Sachs is the co-arranger of the transaction with UOB,…
Exceptional Rates of Failure
With industry exception rates so high that the word exception is hardly appropriate, some firms are taking drastic steps. Among them: demanding that partners meet minimum standards to continue getting business.
ABN Amro delves into global OTC oil and gas derivatives
Dutch bank ABN Amro has started to offer its clients oil and gas hedging services, as part of its financial markets business, which incorporates debt capital markets, structured lending and risk management activities.
CME launches more weather contracts
The Chicago Mercantile Exchange (CME) will introduce six additional weather futures and options contracts at the end of the month. The CME’s new seasonal degree day index futures and options will offer coverage in the November-to-March heating season and…
New CDO issuance picked up in April, says Goldman
The collateralised debt obligation (CDO) market witnessed a turnaround in new issuance in April, according to research from Goldman Sachs in New York. But the year-to-date new issue of CDOs in the US and European markets is still down by more 20% and 50%…
Goldman launches warrants on UK house prices
Goldman Sachs will launch warrants linked to the UK residential housing market tomorrow, the investment bank said in statement today.
Emerging markets credit derivatives index debuts
JP Morgan Chase has begun formally showing prices on its Emerging Markets Derivative Index (EMDI) – a tradable portfolio of five-year credit default swaps (CDS).
Tremont Advisers pushes new fund of hedge funds benchmark
Tremont Advisers, a fund of hedge funds with more than $8 billion in assets under management, based in Rye, New York, is proposing a new fund-of-hedge-fund performance benchmark comprising a blend of 70% three-month Libor and 30% S&P 500. If it catches…
Congress demands ratings report from SEC after no-show at hearings
WASHINGTON, DC - The chairman of a House of Representatives subcommittee that held early April hearings titled "Rating the rating agencies: the state of transparency and competition," sent a strongly-worded letter to the chairman of the Securities and…
Classical volatility estimator may become unreliable, says Deutsche
Increased levels of intra-day volatility in the US interest rate derivatives market could make traditional approaches to estimating volatility unreliable, according to research by Deutsche Bank.
Survey sees rise in hedge fund investing by US institutions
Of over 1,000 US institutional investors surveyed by Greenwich Associates, a financial research and consulting firm based in Greenwich, Connecticut, one-third of the 203 funds with hedge fund stakes plan to invest more money in 2003, and not one fund…
Power asset prices plummet
Finance
Insecurity and innovation
Introduction
Cofiri’s risk transformation
Investment banking
On the ball
Relegation risk
Flies in the ointment
Outstanding issues
Worth the trouble?
Collateral managers
