Top story
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GlobalCapital Global Derivatives Awards 2019: the nominees
GlobalCapital is pleased to announce the nominees for this year’s Global Derivatives Awards.
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Eric Pan leaves the CFTC
Eric J. Pan, director of the US Commodity Futures Trading Commission’s Office of International Affairs, is to stand down after nearly four years.
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Tradition goes modular with data offering
Following an extensive restructuring process, interdealer broker Tradition is marketing a modular data product under its market data and information services division, TraditionDATA.
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Clearers finally win relief in leverage ratio battle
The Basel committee on banking supervision has agreed to allow banks to offset the margin posted by clients in calculating the leverage ratio, marking a hard fought victory for the clearing industry.
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RMBS downgrade highlights ongoing benchmark risk
Moody’s this week downgraded an RMBS from debut issuer LendInvest less than two weeks after the online mortgage lender brought the UK prime buy-to-let deal to market. The episode is a rare occurrence in the European securitization market.
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SSA Nokkie issuance up as Norges Bank rates rise
SSA issuers are increasingly looking towards the Norwegian krone market as a hawkish Norges Bank, against the tide, raises rates. The European Investment Bank in particular has sharply increased its Nokkie issuance this year.
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MEP Kay Swinburne joins KPMG
KPMG UK has named Kay Swinburne, a central figure in the shaping of the second Markets in Financial Instruments Directive, as its vice-chair of financial services. Her role will be to help shape the firm’s insights on risk and regulation.
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Americas Derivatives Awards 2019: Société Générale brings tailored approach to US market
Taking a bespoke, advisory approach, at the same time as offering innovative solutions to its clients continues to prove a winning formula for Société Générale, all of which helped the bank mount a successful defence of its title of Americas Corporate Solutions House of the Year.
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ICE wins recognition as benchmark admin well ahead of deadline
The UK financial regulator has recognised Intercontinental Exchange’s data and analytics unit as a third-country benchmark administrator, more than two years ahead of schedule.
Latest awards
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GlobalCapital Americas Derivatives Awards 2019: the winners
GlobalCapital is pleased to announce the winners of its 2019 Americas Derivatives Awards, revealed at a gala dinner at the Metropolitan Club in New York on Thursday May 30. As ever, the awards recognise the firms and innovations that have advanced the derivatives markets during the last 12 months.
Comment
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Deutsche Bank: cutting to greatness never works
Deutsche Bank’s plan to create a new non-core unit, housing €50bn of assets largely from its markets and banking businesses, is just more of the same old Deutsche restructuring plan, warmed over for a new management team. If a non-core unit, cuts to costs, simplification of business lines, a dash of IT spending and a focus on the best businesses didn’t work when Deutsche stock was at €30, why would it work at €6?
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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Piraeus Bank EUR400m 9.75% Jan 29 NC5 tier two
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Westpac New Zealand EUR500m 0.3% Jun 24 green
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UniCredit EUR1.25bn 1.25% Jun 24
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Republic of Serbia €1bn 1.5% Jun 2029
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Black Sea Trade and Development Bank $400m 3.5% June 2024
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Lithuania EUR650m 0.5% 2029, EUR850m 1.625% 2049
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TBC Bank USD300m 5.75% 2024
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CDC EUR500m 0% Jun 24 sustainability bond
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CaixaBank EUR1.25bn 1.375% Jun 26
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Svenska Handelsbanken EUR1bn 0.125% Jun24
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Spain EUR6bn 0.6% Oct 29
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IADB USD2.1bn 2.25% Jun 29
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Italy EUR6bn 3.1% Mar 40
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MMK USD500m 4.375% Jun 24
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CDP Financial USD2bn 2.125% Jun 21
All International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 196,443.08 | 887 | 8.16% |
| 2 | Citi | 185,218.65 | 764 | 7.70% |
| 3 | Bank of America Merrill Lynch | 155,944.17 | 645 | 6.48% |
| 4 | Barclays | 145,423.68 | 584 | 6.04% |
| 5 | HSBC | 122,404.36 | 645 | 5.09% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Credit Agricole CIB | 23,205.24 | 91 | 7.83% |
| 2 | BNP Paribas | 22,856.10 | 93 | 7.71% |
| 3 | Bank of America Merrill Lynch | 17,912.30 | 51 | 6.04% |
| 4 | JPMorgan | 15,832.35 | 43 | 5.34% |
| 5 | UniCredit | 13,242.71 | 72 | 4.47% |
Bookrunners of all EMEA ECM Issuance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Morgan Stanley | 6,646.08 | 29 | 10.31% |
| 2 | JPMorgan | 6,222.43 | 38 | 9.65% |
| 3 | Goldman Sachs | 5,596.92 | 27 | 8.68% |
| 4 | UBS | 4,205.38 | 21 | 6.52% |
| 5 | Citi | 4,178.15 | 30 | 6.48% |
