Goldman Sachs
Red backers confirm exclusive talks with Mark-it
Deutsche Bank, Goldman Sachs and JP Morgan, the backers of a credit derivatives reference entity database called Red, have confirmed they are in exclusive talks to sell their database to UK start-up company Mark-it Partners.
Deutsche launches commodity indexes
Deutsche Bank has launched two new indexes that track the performance of a small set of liquid commodities.
Mark-it plans to offer data pricing service for structured credit
Mark-it Partners, a two-year-old company founded by senior bankers at Canada’s Toronto Dominion, is in advanced negotiations to set up a data pricing service for collateralised debt obligations (CDOs). If successful, this could become the first such…
Goldman to introduce single data portal
Goldman Sachs plans to replace its Financial Workbench fixed-income research portal with a new system that will centralise data and research from across the bank for buy-side and corporate clients in the coming months.
Dealers rebut UK covered warrants market flop claims
Leading warrants dealers in the UK have rebutted claims that the London Stock Exchange’s (LSE) new covered warrants market is a flop.
Nationalisation required for Japanese bank recovery, says Fitch
A partial nationalisation of Japan's ailing banks may be the only way to resolve the country's economic woes, with recent efforts by individual institutions to restructure their balance sheets unlikely to lead to an autonomous recovery in the banking…
Top dealers plot ‘Project Red’ revival
The backers of ‘Project Red’, a credit derivatives reference entity database (Red) set up by top dealers Deutsche Bank, Goldman Sachs and JP Morgan to remove basis risk in credit trading, have conditionally agreed to sell the service to UK credit risk…
UBS Warburg hires ex-Goldman prime brokerage head
Swiss investment bank UBS Warburg has hired Alex Ehrlich, the influential ex-head of Goldman Sachs' prime brokerage business, as its head of international hedge fund services.
Goldman may see raft of risk deal-flow from Sumitomo stake
Goldman Sachs may see a significnant increase in structured finance deals and other risk transfer activity following its ¥150 billion ($1.27 billion) investment in Japanese bank Sumitomo Mitsui Financial Group.
HSBC hires new North American head of FX sales and trading
HSBC has hired Ben Welsh as managing director and head of foreign exchange sales and trading for North America. Welsh joins HSBC from Goldman Sachs’ New York office, where he was head of foreign exchange spot and forward trading.
CDO activity sparks tightening in default swap prices
Trading in the European credit default swap market this week was brisk, with traders stating they had seen good liquidity in the market and narrowing spreads following the holiday break.
Hetco stops power trading
Hetco, the New York-based proprietary energy trading company, has closed its power trading desk. Hetco was created in 1997 as a joint venture between US oil major Amerada Hess and Stephen Hendel and Stephen Semlitz, two former partners of Goldman Sachs,…
Salame joins Tanemura as co-head of credit derivatives at Goldman
Goldman Sachs has promoted head of credit trading for Europe and Asia, Pablo Salame, to co-head of global credit derivatives alongside Ron Tanemura, who was previously sole global head of credit derivatives.
AIG makes senior FX appointments
AIG Trading Group has made four senior additions to its global foreign exchange operation over the past two months, a spokesperson in the bank’s Greenwich, Connecticut headquarters said.
Attractive investment opportunities lie in managed synthetic CDOs, says Goldman
Managed synthetic collateralised debt obligations (CDOs) currently present an attractive long-term opportunity for investors, Goldman Sachs said in a new report this week. The CDOs, composed of credit default swaps on corporate credit, take advantage of…
Insurance companies turning to hedge funds, says Swiss Re
Insurance companies are increasingly turning to third-party asset managers to improve returns and manage risk, according to a new study by Swiss Re. As a result of the trend, insurers' alternative investment holdings in hedge funds are poised to grow by…
Sponsor's article > Credit derivatives: will the market keep expanding?
This article aims to give a brief overview of some of the main trends in the credit derivatives market and also proposes to analyse some of the underlying reasons why this market is experiencing such a boom.
Airline exposures cast shadow over CDOs and derivatives trading
Collateralised debt obligation (CDO) investors assessing their credit risk exposure should be aware that recovery prospects among airlines bonds vary dramatically from company to company, according to Goldman Sachs.
LSE launches covered warrants trading
The London Stock Exchange (LSE) launched its covered warrants market this morning, giving UK private investors direct access to equity hedging tools.
Samsung Securities poaches Goldman specialist Choi
Korea’s Samsung Securities has poached Alex Choi from Goldman Sachs to head its newly established capital markets division in Seoul. Choi was previously executive director for liabilities management at Goldman Sachs in Hong Kong.
Equity put–credit default swap arbitrage opportunities disappearing, say US dealers
Jeremy Howard, head of US convertibles research at Deutsche Bank in New York, has said that the days of buying low-strike equity put options to hedge sales of credit default swap protection are largely gone.
Goldman’s Ehrlich claims hedge funds do not move markets
Goldman Sachs’ London-based head of prime brokerage in Europe and Asia, Alexander Ehrlich, has claimed there is no apparent correlation between the volume of short selling of stocks by hedge funds and market direction and volatility.
Credit spreads for European financial debt protection widen
The cost of credit protection for European banks has widened significantly this week as negative fundamentals dominated market sentiment. Five-year credit default swaps for major European banks widened between 1 to 10 basis points for senior protection…