ISDA Prepares ABS Standardization

The International Swaps and Derivatives Association is developing a standard set of definitions for credit events on credit-default swaps referenced to asset-backed securities.

  • 09 May 2004
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The International Swaps and Derivatives Association is developing a standard set of definitions for credit events on credit-default swaps referenced to asset-backed securities. Louise Marshall, spokeswoman in New York, said the association is preparing a draft to standardize pay-as-you-go as well as cash and physically settled definitions. ISDA recently asked its members whether it should write a standard set of definitions for ABS referenced swaps (DW, 2/29). ISDA plans to circulate the draft shortly and will schedule a conference call in a couple of weeks to discuss the paper, she said.

"This process just started but there's quite a lot of interest globally," said an ISDA member in Japan, noting that the standards should likely be finalized in the next few months.

  • 09 May 2004

All International Bonds

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1 Barclays 20,041.00 34 7.66%
2 Citi 18,215.95 71 6.97%
3 JPMorgan 16,098.67 49 6.16%
4 Goldman Sachs 15,821.46 36 6.05%
5 HSBC 15,568.27 47 5.95%

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Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 48,528.41 214 6.32%
2 Deutsche Bank 44,075.51 161 5.74%
3 BNP Paribas 41,452.79 240 5.40%
4 JPMorgan 37,278.65 134 4.85%
5 SG Corporate & Investment Banking 36,258.27 187 4.72%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 Goldman Sachs 1,607.28 5 28.64%
2 Credit Suisse 1,301.65 4 23.20%
3 BNP Paribas 522.35 4 9.31%
4 SG Corporate & Investment Banking 444.17 3 7.92%
5 Morgan Stanley 331.78 2 5.91%