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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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Gilliat Financial Solutions has launched a growth structure referencing the FTSE EPRA/NAREIT Developed Europe Index. The structure, called the Gilliat Growth Builder Series, is aimed at investors who expect property markets to be range bound over the next six years. Capital is protected up until a 45% drop in the index.
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GMG Limited, a London-based interdealer broker, has been has been granted a license by the Dubai Financial Services Authority. GMG will provide traditional voice and electronic execution services for banks, funds, sovereign funds and corporates in instruments including equity derivatives and fx options.
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Deutsche Bank and Austrian rail operator OeBB Holdings have reached a settlement in a dispute regarding EUR613 million (USD882 million) worth of derivatives. Deutsche Bank has agreed to receive EUR295 million in return for dissolving a contract on collateralized debt obligations between the parties. OeBB invested in the CDO in 2005 and 2006, but the value of the securities declined in 2008 due to the collapse of the U.S. mortgage market, forcing the company to write down the entire value of the securities.
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Japan Airline may receive a USD3.3billion lifeline from a state-backed fund on the proviso it files for bankruptcy and banks agree to write off loans, said industry sources. The Enterprise Turnaround Initiative Corporation of Japan is considering injecting the capital although the airline’s major creditors would have forgive a substantial figure in debt with four major creditors shouldering about 70% of it including losses on other debts such as bonds and derivatives contracts.
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Northern Trust has started reporting securities exposure of over-the-counter derivatives contracts for its clients’ OTC trades. Lenora Kelley, product manager for Northern Trust's compliance products, said “Market volatility and shocks to the financial system have prompted institutional investors to take a broader, deeper view of exposures for their risk management and compliance oversight programs.”
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Kevin Lepsoe, head of structured credit for Asia Pacific at Morgan Stanley, and Sage Zaheer, the firm’s head of structured rates for the region, were recently appointed co-heads of financial institutions structuring in addition to their current roles.