Top story
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ABP leads the way in switching FRNs to Sonia
The UK corporate bond market is getting its first taste of a trend that could dominate liability management in the coming years. Associated British Ports this week asked holders of its £65m 2022 floating rate note to consent to switching the bonds’ reference rate from Libor to Sonia. Alex Radford and Ross Lancaster report.
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IG Group plans path for growth after trading revenue drop
Online derivatives provider IG Group has outlined a new strategy to return the company to growth in the face of tougher regulation.
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ICE charts tick history with data product
Global exchange and clearing house operator Intercontinental Exchange has launched a new cloud-based tick-history platform.
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BrokerTec targets European repo with RFQ
CME Group’s fixed income electronic trading platforms business is launching a dealer-to-client Request for Quote (RFQ) trading product for the European repo market.
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ISDA rolls CDM out for UK regtech pilot
The International Swaps and Derivatives Association is using its ISDA Common Domain Model (ISDA CDM 2.0) in a pilot involving the UK Financial Conduct Authority, the Bank of England and various financial institutions.
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Nomura’s insurance solutions head joins Invesco
Richard Glenn has left his position as head of the insurance solutions group for Europe, the Middle East and Asia at Nomura, joining Invesco. Another head of that group departed the bank last year.
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LCH selects fellow LSE unit for approaching SFTR
Repo trade clearing service LCH RepoClear has selected the London Stock Exchange’s UnaVista platform to help it meet new reporting obligations under the incoming Securities Financing Transaction Regulation (SFTR).
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Exchanges score win with CFTC speed bump ruling
The US Commodity Futures Trading Commission has given a boost to derivatives exchanges that are introducing passive liquidity protection for some of their contracts.
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European regulators slam FX banks with €1.1bn fines
The EU has fined five big banks about €1.1bn in total after it found that some of their currency traders were involved in a foreign exchange cartel.
Latest awards
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GlobalCapital Americas Derivatives Awards 2019: the nominees
GlobalCapital is pleased to announce the nominees for its 2019 Americas Derivatives awards.
Comment
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FCA fraud findings: a reminder of the danger of crypto
The UK Financial Conduct Authority’s announcement this week that UK retail investors have lost £27m to FX and crypto scams will have won little more than passing attention from heavyweight capital markets players.
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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World Bank USD4bn 2.125% Jul 22
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Netherlands €5.985bn 0.50% Jan 40 green bond
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NWB EUR1bn 0.125% May 27 affordable housing bond
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Kommuninvest USD1bn 2.250% Jan 21
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NRW.Bank USD750m 2.25% May 23
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SGP EUR1bn 1.70% May 50 green bond
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Novolipetsk Steel $500m 4.7% May 2026
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Standard Bank $400m 5.95% May 2029
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SMFG EUR500m 0.465% May 24 green
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Commerzbank EUR1bn 0.625% Aug 24
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NatWest Markets EUR1bn 1% May 24
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Nordea EUR750m 0.375% May 26 green
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EDC GBP600m FRN May 24
-
TDB USD500m 4.875% May 24
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Hamburg Commercial Bank EUR500m 0.572% May 22
All International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 163,028.47 | 711 | 8.04% |
| 2 | Citi | 160,005.15 | 642 | 7.90% |
| 3 | Bank of America Merrill Lynch | 132,268.74 | 528 | 6.53% |
| 4 | Barclays | 127,185.71 | 494 | 6.28% |
| 5 | HSBC | 106,407.22 | 534 | 5.25% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Bank of America Merrill Lynch | 12,912.95 | 35 | 6.60% |
| 2 | BNP Paribas | 12,334.48 | 61 | 6.31% |
| 3 | UniCredit | 11,196.47 | 58 | 5.73% |
| 4 | Citi | 9,580.75 | 37 | 4.90% |
| 5 | Deutsche Bank | 8,953.95 | 35 | 4.58% |
Bookrunners of all EMEA ECM Issuance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Morgan Stanley | 5,579.06 | 26 | 10.66% |
| 2 | JPMorgan | 4,866.13 | 28 | 9.30% |
| 3 | Goldman Sachs | 4,405.13 | 21 | 8.41% |
| 4 | Citi | 3,774.81 | 24 | 7.21% |
| 5 | UBS | 3,602.23 | 16 | 6.88% |
