CMBX Activity Takes Off

Trading activity on the synthetic commercial mortgage-backed securities index, CMBX, has picked up dramatically in the past month, said Kamilla.

  • 23 Jun 2006
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Trading activity on the synthetic commercial mortgage-backed securities index, CMBX, has picked up dramatically in the past month, said Kamilla. CMBX trading volume--off to a slow start--still pales in comparison with the USD75 billion residential MBS index, ABX. But the past four weeks have boosted outstanding CMBX notional to USD15 billion from less than USD 100 million March 7, its first day trading.

Part of the reason for the recent interest is that the ABX has widened dramatically relative to the CMBX. "If you're negative on the mortgage market as a whole you might as well short the CMBX for half the price," one trader explained to DW after the panel. "The CMBX may be the next new development."

  • 23 Jun 2006

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 358,291.38 1348 9.06%
2 JPMorgan 320,704.66 1461 8.11%
3 Bank of America Merrill Lynch 318,128.31 1104 8.04%
4 Goldman Sachs 236,643.87 789 5.98%
5 Barclays 231,197.41 895 5.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 35,007.57 165 6.53%
2 Deutsche Bank 34,880.53 120 6.51%
3 Bank of America Merrill Lynch 31,805.65 97 5.93%
4 BNP Paribas 27,920.60 169 5.21%
5 SG Corporate & Investment Banking 24,398.89 138 4.55%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,745.92 80 8.86%
2 Morgan Stanley 16,323.54 83 7.32%
3 Citi 15,946.50 94 7.15%
4 UBS 15,487.17 60 6.95%
5 Goldman Sachs 14,053.61 76 6.30%