Loan Index Launch Pushed To Next Year

A tradeable index comprising credit default swaps referencing loans will most likely not be launched until the first quarter of next year, dealers said.

  • 13 Oct 2006
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A tradeable index comprising credit default swaps referencing loans will most likely not be launched until the first quarter of next year, dealers said. Lawyers and dealers from the banks working on the index held a call last Wednesday, where the decision was made, then discussed some of the legal aspects behind the product.

Participants discussed whether the same protocol could be used for single-name LCDS trade settlements. Also, there are a couple of different ways the netting could be done, and the dealers still need to agree on one method to become a protocol.

The group had initially been looking at a September/October launch date, although some dealers had thought the index could be up and running as early as August (CIN, 6/23).

  • 13 Oct 2006

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

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1 Citi 10,064.23 34 12.73%
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3 Bank of America Merrill Lynch 7,473.95 24 9.45%
4 JPMorgan 7,314.30 26 9.25%
5 Wells Fargo Securities 6,258.35 24 7.92%