...Set For Painless Physical Single-Name Settlement

Dealers were expecting physical settlement of single-name credit-default swaps on Delphi Corp. to be smoother than anticipated on first news of the default.

  • 04 Nov 2005
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Dealers were expecting physical settlement of single-name credit-default swaps on Delphi Corp. to be smoother than anticipated on first news of the default. Last month, when the corporate defaulted, dealers were believed to have tens of thousands of outstanding contracts--more contracts, it seemed, than bonds they could physically deliver. Since Delphi's default Oct. 8, however, dealers have been netting CDS exposures and tearing up contracts. Officials this week said they have only a fraction of the contracts they had a few weeks ago and that they expect to physically settle well under half of them.

The International Swaps and Derivatives Association's hybrid settlement procedure called for cash settlement of index trades and physical settlement of single names (DW, 10/21).

  • 04 Nov 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 330,488.64 1282 8.09%
2 JPMorgan 322,584.56 1394 7.90%
3 Bank of America Merrill Lynch 296,928.01 1015 7.27%
4 Barclays 249,873.33 927 6.12%
5 Goldman Sachs 220,211.32 736 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 46,112.22 182 6.98%
2 JPMorgan 44,545.29 93 6.74%
3 UniCredit 35,639.50 153 5.39%
4 Credit Agricole CIB 33,211.72 160 5.03%
5 SG Corporate & Investment Banking 32,419.80 126 4.91%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,792.73 61 8.96%
2 Goldman Sachs 13,469.15 66 8.75%
3 Citi 9,716.40 55 6.31%
4 Morgan Stanley 8,471.86 53 5.50%
5 UBS 8,248.12 34 5.36%