Foreign exchange
S&P ardent on arbitrage
S&P has launched a family of indexes designed to model common arbitrage strategies in the financial markets. The three indexes comprise the S&P 500 Volatility Arbitrage, Currency Arbitrage and Long-Only Merger Arbitrage.
Commerzbank launches UK and Ireland sales
Commerzbank Corporates & Markets (CBCM) has launched a UK and Ireland Financial Institutions Marketing (FIM) sales team which includes two new hires, Eugene Collins and Steven Muzzlewhite. The initiative marks the expansion a European structured products…
First cleared CER spot transaction on Climex
The first cleared spot trade of Certified Emission Reductions (CERs) took place on Climex this week.
Currency correlations
The US dollar has undergone a 40% decline against theeuro over the past seven years. At the same time, crude oilprices have risen over 350%, and were up 57% in 2007. Theimpact of currency on the world energy markets, and whetherthere is cause or effect…
First Dutch spark spread traded
The first OTC Dutch spark spread, which represents the generating margin of gas-fired power stations, was traded this week, brokered by Spectron.
JP Morgan wins Derivatives House of the Year award
JP Morgan has won Risk magazine’s Derivatives House of the Year award. The US bank was widely praised by end-users for continuing to provide liquidity during the turmoil of the third and fourth quarters last year, showing strength across all asset…
Agencies rethink market risk rating methods
The three largest global rating agencies are reconsidering their approach to rating structures exposed to fluctuations in market value, with potentially unpalatable results for holders and arrangers of various structured credit products.
Pioneer Investments recruits Price-Haworth as head of Institutional & Wholesale UK
Roger Price-Haworth joins Pioneer Investments as head of Institutional & Wholesale Business UK, a newly created role based in the London office. He will report to Paul Price, head of Global Institutional.
Deutsche consolidates retail structured products
Deutsche Bank has consolidated its retail structured products business into Global Markets Investment Products (GMIP), which has been designed to bring together product aligned-platforms already available to both retail and institutional investors. GMIP…
Currency correlations
While oil prices have been rising, the US dollar has staged a steady decline, leading to much speculation over the linkage between the two. Eric Fishhaut investigates their connection
S&P becomes master of the inverse
S&P has launched the S&P 500 Inverse Index, which is designed to act as a short position barometer and offer the inverse performance of the S&P 500 and is the first to be launched as a part of S&Ps family of leveraged and inverse indexes.
Dow Jones and Dharma Investments launch new faith-based indexes
Dow Jones Indexes and private investment firm, Dharma Investments, have launched five Dow Jones Dharma Indexes designed to measure the performance of companies selected according to the value systems and principles of Dharmic religions, especially…
Bank of England Act proposed
Daily news headlines
New research sees improvement in risk management the focus for 2008
Daily news headlines
BNPP adds Tranter as head of European equity derivatives flow sales
Nick Tranter will join BNP Paribas as head of European Equity Derivatives Flow Sales on January 28. Tranter will also oversee the French bank’s equity derivatives business with UK clients. He will report to Denis Frances, global head of equity…
The drive for convertibles
Hedge funds are exploring opportunities in convertible arbitrage, a trade that appeared to have gone out of fashion permanently back in 2005. With the promise of lucrative returns having put this strategy firmly back on the map, investors now need to be…
Banks intensify SIV firefighting efforts
Banks are scrambling to revive flagging structured investment vehicles amid downgrades and souring market values. Is there a case to answer for the rating agencies?
Covered Bonds rates or credit?
In these times of uncertainty for the credit markets, covered bonds have become something of a refuge for investors. Their seniority in the capital structure and close relationship to Bunds have led some in the market to treat them as a proxy for rates…
Talking point - 2008 outlook
Talkingpoint
Column - David Watts
Our reliance on low correlation has been instrumental in destroying that very scenario