Top stories
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Nasdaq replenishes default fund after taking €107m hit
Nasdaq Clearing said early on Monday that it had replenished 90% of its member default fund, adding it had “no indication” that a member would shirk on its commitments. The deadline for replenishment is on Monday.
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UK regulators warn again on Libor, demand concrete engagement
The Prudential Regulation Authority and Financial Conduct Authority have written to the CEOs of major banks and insurers that they supervise to demand clear evidence that those firms are engaging with the transition away from the Libor benchmark.
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NEX coughs up $50m for ISDAFix manipulation
NEX Group is set to pay $50m after settling with the US Commodity Futures Trading Commission (CFTC) over allegations that brokers in its subsidiary ICAP helped bank traders in their attempts to manipulate the USD ISDAFix benchmark.
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HSBC picks DCM stalwart to co-head securities services
HSBC Securities Services has appointed two global co-heads — one of them a well-known figure in the debt capital markets.
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SEC appoints new derivatives director
The US Securities and Exchange Commission (SEC) on Monday said it had appointed Mark Wolfe as its associate director for the Office of Derivatives Policy and Trading Practices.
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ETFs and ETPs hit record month following February outflows
Assets allocated to US exchange traded products and funds hit a record high in August, after suffering outflows when volatility returned to US markets in February.
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BNPP hires Goldman vet for FX options
BNP Paribas has hired Baris Temelkuran as global head of G10 FX options trading.
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CLS CEO steps down, chairman to take on interim role
David Puth, the CEO of FX settlement firm CLS, will step down from his position at the end of this month.
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Moody's hails Lloyds' Sonia deal as 'essential' for markets
Moody's has praised Lloyds Bank’s first sterling Sonia-linked covered bond for being an "essential" development that will help to create a market for similar deals and limit disruption from the move away from Libor.
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Nasdaq makes $190m offer for Cinnober
Exchange and tech group Nasdaq has made a $190m all cash offer to buy Cinnober, the Swedish Fintech company.
Latest awards
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GlobalCapital Global Derivatives Awards 2018: the nominees
GlobalCapital is pleased to announce the shortlist for its Global Derivatives Awards 2018.
Comment
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Nasdaq must come clean
A Norwegian trader lost millions on Wednesday in a bad bet on the German and Nordic power markets, putting other members of Nasdaq Clearing on the hook for €107m in losses. The clearing house withstood the test to its capital buffers, but Nasdaq must be clear about what went wrong and what steps need to be taken to maintain confidence in its systems.
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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BNG USD2.5bn 3% Sep 23
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AfDB USD2bn 3% Sep 23
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Abu Dhabi Islamic Bank USD750m 7.125% Sep 23 sukuk
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EIB EUR3bn 0.2% Jul 24
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Al Hilal Bank USD500m Sep 2023 4.375% sukuk
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Apicorp USD750m 4.125% Sep 2023
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Kingdom of Saudi Arabia USD2bn 4.3% Jan 2029 sukuk
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KfW USD1.5bn 2.75% Oct 20 tap
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Spain EUR4bn 0.7% Nov 33 linker
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AFD EUR500m 0.5% Oct 25 climate bond
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IADB USD2.8bn 3.125% Sep 28
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CDC EUR1bn 0.75% Sep 28
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Swedbank EUR500m 1.5% Sep 28 tier two
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Sydbank EUR500m 1.375% Sep 23 non-preferred senior
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Bankia EUR500m 6.375% PNC5 AT1
All International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 272,848.08 | 1048 | 8.12% |
| 2 | JPMorgan | 265,005.45 | 1158 | 7.89% |
| 3 | Bank of America Merrill Lynch | 247,670.24 | 827 | 7.37% |
| 4 | Barclays | 202,639.20 | 746 | 6.03% |
| 5 | Goldman Sachs | 181,377.67 | 593 | 5.40% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | BNP Paribas | 34,333.90 | 143 | 6.39% |
| 2 | JPMorgan | 32,762.25 | 63 | 6.09% |
| 3 | UniCredit | 28,575.53 | 131 | 5.32% |
| 4 | SG Corporate & Investment Banking | 28,297.17 | 109 | 5.26% |
| 5 | Deutsche Bank | 26,465.66 | 91 | 4.92% |
Bookrunners of all EMEA ECM Issuance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 11,195.88 | 46 | 9.08% |
| 2 | Goldman Sachs | 10,193.27 | 47 | 8.26% |
| 3 | Citi | 9,056.44 | 50 | 7.34% |
| 4 | Morgan Stanley | 6,436.97 | 42 | 5.22% |
| 5 | UBS | 6,098.17 | 23 | 4.94% |
