Managers Struggle To Fill Synthetic Buckets

The advent of the International Swaps and Derivatives Association's pay-as-you-go template for credit-default swaps on asset-backed securities has allowed more portfolio managers to use synthetic ABS, but managers say it is a struggle to fill buckets of CDS on ABS.

  • 10 Feb 2006
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The advent of the International Swaps and Derivatives Association's pay-as-you-go template for credit-default swaps on asset-backed securities has allowed more portfolio managers to use synthetic ABS, but managers say it is a struggle to fill buckets of CDS on ABS. "The names in the index became the only names you are able to source synthetically," said Steven Kolyer, partner and head of the financial products group at Clifford Chance in New York. The challenge is to fill synthetic buckets with different names from those in the index and thereby differentiate each collateralized debt obligation from both the index and structures offered by competitors.

  • 10 Feb 2006

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Citi 253,106.92 930 8.89%
2 JPMorgan 230,914.50 1036 8.11%
3 Bank of America Merrill Lynch 221,389.46 762 7.78%
4 Goldman Sachs 171,499.26 554 6.03%
5 Barclays 169,046.60 646 5.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 27,039.93 106 7.36%
2 Deutsche Bank 25,125.19 81 6.84%
3 Bank of America Merrill Lynch 23,128.33 61 6.29%
4 BNP Paribas 19,315.94 110 5.26%
5 Credit Agricole CIB 18,706.93 106 5.09%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 JPMorgan 12,578.87 55 8.17%
2 Citi 11,338.07 71 7.36%
3 UBS 10,682.06 44 6.93%
4 Goldman Sachs 10,419.53 53 6.76%
5 Morgan Stanley 10,194.88 57 6.62%