Top stories
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Non-cleared IRS prices gap out from CCP product
Dealers are exercising bargaining power and protecting against increased regulatory costs by charging more for non-cleared interest rate swaps, according to a new report by the Bank of England.
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Turkey’s five year CDS spread tightens as US feud continues
The cost of buying credit default swaps on Turkish five year government debt has stopped its upward trajectory and eased lower, even as the country’s standoff with the US continues.
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Crypto exchanges to self regulate with new body
Major cryptocurrency exchanges Bittrex, Gemini, Bitstamp and bitFlyer have launched a working group to establish a self-regulatory organisation (SRO), potentially having large implications for the cryptocurrency spot and derivatives markets.
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BNPP hires credit strategy head from Brevan Howard
BNP Paribas said on Thursday that it had hired Viktor Hjort from Brevan Howard as global head of credit strategy and desk analysts, following the promotion of Olivia Frieser to global head of research.
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Tradeweb targets US equity options
Electronic trading platform provider Tradeweb is entering the US equity options market with a request-for-quote protocol that aims to capture growing investor taste for the product.
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UniCredit CDS highlights Italy as much as EM
Turkey’s self-inflicted problems have had ramifications well beyond its borders and led to comparisons with previous emerging market crises.
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Nomura turns to structured solutions as it seeks international growth
The Japanese bank has revamped its investment banking division as it looks to boost efficiency and grow revenues following a grim first quarter and cuts in global markets.
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R.J. O'Brien appoints chief strategy officer
Chicago-based futures brokerage R.J. O'Brien and Associates (RJO) has appointed Stephen Brodsky to its newly created chief strategy officer role, the company said on Wednesday.
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Negative rates pose contract questions
A note by law firm Mayer Brown has advised counterparties trading with International Swaps and Derivatives Association (ISDA) documentation to consider special amendments if they want their contracts to take into account the effects of negative interest rates, referencing a recent court decision.
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World Bank grabs $1bn with SOFR debut amid fair value debate
World Bank took $1bn for its first trade linked to the Secured Overnight Financing Rate (SOFR) on Tuesday as bankers debated the best way to find fair value for the new product.
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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Erdogan’s Turkey a warning for Brexit Britain
Markets don’t like governments engaging in unnecessary economic self-harm, and after numerous warnings and cautions on its unsustainable economic policies, investors are now abandoning Turkey —Brexit Britain should beware.
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Bank Profiles
Latest news by market and league table performance
Bond Comments
-
World Bank USD1bn FRN Aug 20
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Volkswagen Leasing €1bn 0.25% Feb 2021, €750m Feb 2023, €750m Aug 2025
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BNP Paribas USD750m 7% PNC10 AT1
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Eskom $1bn 6.35% Aug 28, $500m 8.45% Aug 28
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World Bank EUR750m 1.2% Aug 34
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IFC USD2bn 2.875% Jul 23
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ESM EUR4bn 0.1% Jul 23
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EBRD GBP450m FRN Jul 23
-
EIB CAD1bn 2.25% Jul 21
-
Prologis €750m 1.875% January 2029
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Terna €750m 3% July 2023
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World Bank USD5bn 2.75% Jul 21
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BNG EUR750m 0.75% Jan 28 tap
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Citigroup EUR1.75bn 1.5% Jul 26
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UK GBP3.25bn 0.125% Aug 41 linker
All International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 241,977.38 | 927 | 8.19% |
| 2 | JPMorgan | 223,817.40 | 997 | 7.58% |
| 3 | Bank of America Merrill Lynch | 216,160.55 | 723 | 7.32% |
| 4 | Barclays | 185,098.93 | 672 | 6.27% |
| 5 | Goldman Sachs | 158,991.47 | 518 | 5.38% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 32,522.19 | 61 | 6.54% |
| 2 | BNP Paribas | 32,284.10 | 130 | 6.49% |
| 3 | UniCredit | 26,992.47 | 123 | 5.43% |
| 4 | SG Corporate & Investment Banking | 26,569.73 | 97 | 5.34% |
| 5 | Credit Agricole CIB | 23,807.36 | 111 | 4.79% |
Bookrunners of all EMEA ECM Issuance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Goldman Sachs | 10,167.68 | 46 | 8.81% |
| 2 | JPMorgan | 9,894.90 | 42 | 8.58% |
| 3 | Citi | 8,202.25 | 45 | 7.11% |
| 4 | UBS | 6,098.17 | 23 | 5.29% |
| 5 | Credit Suisse | 5,236.02 | 28 | 4.54% |
