Deutsche Bank Plans U.S. Structured Products

  • 15 Oct 2001
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Deutsche Bank is gearing up for a push into marketing equity structured products to U.S. investors, in advance of a change in legislation that is expected to open up the market. Johan Groothaert, head of equity structured products in London, said the firm is awaiting legislation to take effect that would allow it to sell products, such as reverse convertibles and equity-linked notes, to retail investors in the U.S. Currently securitized products structured with over-the-counter options are prohibited for sale to retail investors because they are considered options, but starting in January they will be deemed contracts, said Groothaert. Another official at the bank adds this is part of a broader package of Securities and Exchange Commission rule changes.

"I expect the over-the-counter structured product market in the U.S. will take off, it could be a market of USD300 billion in terms of notional size once up and running," he said, adding, "if you look at the European market, there is a large component of OTC derivatives that have been absent from the U.S."

Deutsche Bank is working on creating a legal platform that would allow it to issue securitized products, Groothaert said, noting that the bank's listing on the New York Stock Exchange earlier this month allows for it to be an issuer in the U.S. He declined comment on the firm's hiring plans.

  • 15 Oct 2001

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 28,736.25 82 9.49%
2 JPMorgan 26,609.28 77 8.79%
3 Barclays 19,197.35 50 6.34%
4 HSBC 18,884.90 60 6.24%
5 BNP Paribas 18,849.94 38 6.23%

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1 Bank of America Merrill Lynch 9,498.80 2 86.78%
2 Swedbank 160.81 1 1.47%
2 Sumitomo Mitsui Financial Group 160.81 1 1.47%
2 SEB 160.81 1 1.47%
2 Nordea 160.81 1 1.47%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 ING 220.22 2 15.39%
1 Bank of America Merrill Lynch 220.22 2 15.39%
1 ABN AMRO Bank 220.22 2 15.39%
4 Morgan Stanley 114.77 1 8.02%
4 BNP Paribas 114.77 1 8.02%