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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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John Craven, director of global markets and head of retail structured products and capital markets for Europe, the Middle East and Africa at Merrill Lynch in London, left last week.
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On May 5, 2009, Judge James Peck, the bankruptcy judge in the Lehman Brothers bankruptcy cases, held that the safe harbor provisions of the Bankruptcy Code do not override the mutuality requirements for setoff under section 553(a) of the bankruptcy Code. As a consequence, the bankruptcy court prohibited Swedbank, a non-debtor counter party to a swap agreement, from setting off pre-petition claims against Lehman against funds collected for Lehman's account post-petition. See In re Lehman Bros. Holdings Inc., Bankr. Case No. 08-13555 (JMP) (Bankr. S.D.N.Y. May 5, 2010) (the "Opinion"). While Swedbank does not involve a triangular setoff, the analysis of the Swedbank court should equally apply to triangular setoff situations (or to any setoff lacking mutuality).
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Hedge funds and corporates have been buying up one-week and one-month put options on the euro against the U.S. dollar since Wedneday after being rattled by Germany’s decision to ban naked sovereign credit default swaps referencing eurozone debt.
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RBC Capital Markets is working to build out its equity derivatives business, particularly in the U.S. This week the firm announced a string of new hires and the appointment of Donald Dye, a fixed-income veteran, as U.S. head of retail and high-net-worth sales.
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MF Global Holdings posted an unexpected quarterly loss and plans to eliminate as much as 15% of its workforce.
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The U.S. Senate voted today to close debate on the financial reform bill, putting Congress on track to approve it.