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CEB plans to print more structured notes and may launch inaugural Sofr bond in 2026
Japanese firm plucks banker from UBS
The Americas derivatives community came together in New York to recognise and celebrate outstanding achievements across the industry
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Religare Asset Management, the New Delhi-based asset management arm of Religare Enterprises, is planning to launch a close-ended debt fund that can use fixed-income derivatives, such as interest rate and forward rate swaps, to hedge interest rate risk.
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Hedge funds and real money accounts have been buying short-dated vol via equity options over the last week. Trades have included one-to-three-month upside calls referencing Hong Kong’s HSCI and HSI.
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Credit value adjustment is the amount subtracted from the mark-to-market value of derivative positions to account for the expected loss due to counterparty defaults. Debt value adjustment is basically CVA from the counterparty’s perspective.
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Deutsche Bank deferred up to 90% of the amounts of some bonuses over three years, targeting the firm’s more senior employees and senior risk takers. The firm also lowered the threshold at which a bonus would be subject to deferral, from EUR100,000 to EUR75,000. [According to news reports, the firm will defer an employee’s bonus above EUR200,000 (USD264,800) for 2011. Should the bonus be above the EUR200,000 limit, then he/she will receive half of it in cash, and half of it in shares. The shares can be sold in August.]
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—Reinhard Bellet, president of the European Structured Investment Products Association, on the difficulty in coming up with a single European regulatory proposal for structured products.
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Considering the continued fear over the future of Greece within the Eurozone, and the potentially calamitous outcome if there was to be a disorderly exit from the region in the near term, it is surprising how volatility has reverted to almost pre-crisis levels.
