News
Lee reappears at Deutsche Bank as head of GMIP and db-X, Asia
Chris Lee has taken over global market investment products and the db-x division in Asia for Deutsche Bank. Formerly head of the structured products group at UBS, Lee started at Deutsche in the last week of June.
Uncertainty over FDIC insurance is affecting structured products industry
The US government is currently deciding whether to permanently increase the deposit insurance cover to $250,000 per depositor. The uncertainty is creating problems for the certificate of deposit industry.
SEC and exchanges to implement market-wide halt mechanisms in bid to prevent another flash crash
ETFs were particularly badly hit during the flash crash that hit the US stock market on 6 May. This occured due to withdrawal of liquidity from the market and the industry is now working to prevent a repeat.
Higher insurance premiums for structured products make RDR compliance difficult
Some professional indemnity insurers are charging higher premiums for structured products or are refusing to cover them. This makes it difficult for IFAs to offer them to their clients
S&P creates taxable municipal bond index
Standard and Poor's has created a taxable municipal bond index to give investors access to this low default risk, high return bond class.
Malaysian investors hunt for hybrids
Hybrid structures are increasingly popular in Malaysia as investors look to keep the cost of hedging down and moving away from capital protected products
Eurozone volatility helps German structurers
Volatility across the eurozone is making autocall products popular in the German market, where structurers can offer attractive returns
UBS reverse convertible index offers deposit-beating returns
UBS has created a reverse convertible index to offer German investors income which beats the return on bank deposits
RBC offers BP play using reverse convertible
The Royal Bank of Canada has issued a new reverse convertible based on BP. The oil company's shares have risen in the US market in recent trading despite hitting a 13-year low on the London Stock Exchange in June
Nasdaq creates its first sharia indexes
Nasdaq has launched two sharia-compliant indexes, the first in a family of indexes which it intends to launch.
UK investors swap FTSE 100 ETFs for emerging markets
Investors withdraw from ETFs based on the FTSE 100 in the first quarter of the year, preferring investments based on emerging markets and the US and European becnhmarks.
Source offers European ETF investors access to volatility
Source has brought exposure to volatility to the European market through an ETF based on the S&P 500 Vix Futures Index
Vanguard expands ETF offering with products on equities, fixed income and property
US ETF company Vanguard has increased its business with products on US equity benchmarks, real estate and bonds
Gold ETFs hit new highs as currency fears proliferate
In flows to gold reached record highs over the last two months as investors move their asset allocation from currencies such as the Euro into physical gold
Gazprom quashes fears over Georgia pipeline stake
Russia’s energy giant Gazprom shoots down fears that it is looking to acquire or has acquired a significant stake in Georgia’s main natural gas pipeline and says it is only hypothetically interested in an acquisition
Industry remains divided over case for EU consolidated tape
EU proposals for fixing the market fragmentation that resulted from the implementation of MIFID has the industry concerned
Daiwa buys KBC's Asian equity derivatives and global convertible bonds operations
Daiwa Capital Markets has extended its move into structured products with the acquisition of KBC Group's Asian equity derivatives business
BarCap expands data cost control tools
With an eye to keeping market data costs under control, following its acquisition of Lehman Brothers, Barclays Capital launches a new tool
NY Fed attacks article on AIG debacle
New York Fed general counsel Thomas Baxter takes issue with New York Times article which says Fed ignored advice from advisers on AIG counterparty CDS issue