• Venezuela's petro cryptocurrency meets cold reception

    Venezuela has become the first sovereign nation to launch a cryptocurrency. While few outside Venezuelan president Nicolas Maduro’s administration are impressed by the pioneering venture, others are expected to follow suit nonetheless, write Lewis McLellan, Costas Mourselas and Oliver West.

    • 22 Feb 2018
  • Barclays trading assets balloon as bank gets back in the game

    Barclays reported annual results on Thursday, revealing the huge scale of the firm’s trading balance sheet expansion in 2017, as it scales back up in its historical strength of macro trading. But the low volatility last year weighed on returns, and the growth in the trading book has yet to deliver the profits it hopes for.

    • 22 Feb 2018
  • French regulator tightens net on cryptocurrency derivatives

    The French financial markets regulator clamped down on cryptocurrency derivatives on Thursday, setting out tighter regulation and an advertising ban for the products.

    • 22 Feb 2018
  • Volatility and Brexit good for business, says Deutsche Boerse CEO

    Deutsche Boerse's new CEO, Theodor Weimer, said this week that, given the low market volatility of 2017, there were "headwinds" for the exchanges group, but that there was opportunity heading into 2018.

    • 21 Feb 2018
  • Barclays joins repackaging consortium SPV

    Barclays Bank has joined a multi-dealer special purpose vehicle that issues secured notes, it was revealed on Wednesday.

    • 21 Feb 2018
  • Rosenthal Collins Group appoints new president

    Chicago-based futures brokerage Rosenthal Collins Group on Tuesday announced that it had appointed Jason Manumaleuna president of the organisation, replacing industry veteran Maureen Downs, who left last December.

    • 20 Feb 2018
  • Temenos likely to borrow for £1.4bn swoop on Fidessa

    Temenos, the Swiss banking software company, is in advanced discussions about an all cash offer for Fidessa, the UK trading technology firm, for around £1.4bn, which is likely to involve some debt issuance.

    • 20 Feb 2018
  • MUFG promotes credit sales head

    MUFG has created a new job — global co-coordinator for origination and distribution — for its head of EMEA credit sales, Emmanuel Delattre.

    • 20 Feb 2018
  • FCA plans for machine-filed reports

    The Financial Conduct Authority on Tuesday called upon technology experts from across the finance industry to give feedback on a new automated way to provide the FCA with regulatory reports.

    • 20 Feb 2018
  • Learning Curve: The promise and perils of deal-contingent hedging

    Deal-contingent hedging can be a great way to hedge risks associated with mergers and acquisitions, but a number of pitfalls can flummox first time users of these specialist derivatives.

    • 20 Feb 2018
  • Itiviti targets hot lev loan market with second lien

    In stark contrast with a mute high yield bond market, leveraged loan investors were expecting more than €5bn of new deals on Monday, including a $725m-equivalent deal from Swedish trade technology provider Itiviti, which includes a triple-C rated second lien.

    • 19 Feb 2018
  • CurveGlobal announces new Sonia future

    London Stock Exchange Group's CurveGlobal, an interest rate derivatives platform, on Monday said it would launch a three-month futures contract based on the benchmark rate set to replace sterling Libor, in the second quarter of 2018.

    • 19 Feb 2018
  • SGX promises Nifty successor products

    Singapore Exchange on Monday revealed that it would replace its Nifty products with suitable successors by August to ensure that investors could maintain exposure to Indian markets.

    • 19 Feb 2018
  • Index skews sound reminder of credit interplay

    Rates and equity markets are now embroiled in a tussle that has upset the pervasive complacency of the beginning of 2018. This has naturally affected the credit markets, with primary credit indices experiencing considerable volatility. This may not be as newsworthy as the VIX, but it is notable nonetheless.

    • 15 Feb 2018
  • EBA pushes for tougher hedging after Premier Oil splits risk transfer market

    Premier Oil’s restructuring last year was a test for the risk transfer market, as the different synthetic securitizations exposed to the troubled firm reacted very differently. The European Banking Authority wants to see a tougher approach and more consistency in the market, which could hurt some firms’ ability to transfer risk.

    • 15 Feb 2018
  • VIX trends lower after short volatility fallout

    Implied equity volatility on US stocks, measured by the CBOE’s VIX index, showed signs of cooling off on Wednesday and Thursday, after it dropped from 27 on Monday and Tuesday to 19.7 on Thursday.

    • 15 Feb 2018
  • ISDA hires finreg firm for CDM development

    The International Swaps and Derivatives Association has hired Regnosys, a finreg company, to develop the conceptual design of the trade association’s common domain model into digital format.

    • 15 Feb 2018
  • CFTC's Giancarlo plans European charm offensive on CCPs

    Christopher Giancarlo, the chairman of the Commodity Futures Trading Commission, will visit European regulators in London, Brussels, Frankfurt and Madrid next week in an attempt to defuse European efforts to alter unilaterally the supervision regime for foreign clearing houses.

    • 15 Feb 2018
  • IOSCO trumpets its concerns on complex retail derivs

    The International Organization of Securities Commissions on Tuesday urged its members to “improve the practices” of firms offering complex derivatives to retail clients as it opened a consultation on the matter to the public.

    • 14 Feb 2018
  • E-trading provider bids to resolve MiFID-GDPR clash

    Electronic platform provider NEX has found a compromise between MiFID II, the new set of European regulations which require transparency of trading, and the General Data Protection Regulation (GDPR), an upcoming European regulation which requires corporations to protect individual private data.

    • 13 Feb 2018
  • Equity-bond sell-off leads to more derivatives hedging

    After last week's equity and bond market sell-offs, investors are worried about the positive correlation between the two asset classes, leading to increased hedging with derivatives, according to an equity derivatives strategist.

    • 13 Feb 2018
  • Renaissance Capital launches algo unit

    Russian investment bank Renaissance Capital on Monday revealed that it had set up an algorithmic trading unit to take advantage of volatility in financial markets.

    • 12 Feb 2018
  • Learning Curve: The merits of equally weighted portfolios

    While market capitalisation weighted indices and portfolios have been incredibly popular in recent years, data show that their equally weighted brethren can have an edge with lower concentration risk and better performance.

    • 12 Feb 2018
  • European authorities give cryptocurrency warning

    European supervisory authorities jointly warned consumers this week about the potential risk of buying and holding virtual currencies like bitcoin.

    • 12 Feb 2018
  • The week in renminbi: China sets date for oil futures launch, Philippines wins approval for Panda debut, offshore investors hold more Chinese bonds

    China unveils plans to kick start RMB-denominated oil futures next month, the Philippines gets regulatory greenlight for its Panda bond issuance, and foreign ownership of bonds in the interbank bond market rises again in January.

    • 12 Feb 2018
  • Corporates mull options hedge in new life under IFRS 9

    Corporates have been considering using options to hedge their FX exposure ever since the International Financial Reporting Standard 9 came into effect this year. But interest has been slower to build than some experts had expected.

    • 08 Feb 2018
  • Short vol trick collapses as markets whipsaw

    The viability of short volatility strategies in derivatives markets was dealt a severe blow this week, after a historic spike in equity volatility torpedoed popular exchange traded notes. Costas Mourselas reports.

    • 08 Feb 2018
  • SGX wins another deriv trading member, despite big fee rises

    The Singapore Exchange has continued a healthy streak of sign-ups to its derivatives service this year, as it added a Chinese futures trading company to its membership.

    • 08 Feb 2018
  • If you liked XIV, you’ll love peripheral AT1

    Protecting retail investors is a laudable goal. But what they are protected from often seems arbitrary.

    • 08 Feb 2018
  • HKEX locks-in index options after-hours trading

    Hong Kong Exchanges and Clearing (HKEX) has committed to allowing trading of popular equity index options in its after-hours trading session, after similar futures contracts enjoyed success in a lengthier session.

    • 07 Feb 2018
  • Volatility explosion sinks Credit Suisse ETN

    An exchange traded note that rewards investors when equity volatility drops is being shuttered by Credit Suisse, after implied volatility on the S&P 500 exploded this week.

    • 06 Feb 2018
  • CFTC warms to federal oversight of cryptocurrencies

    Commodity Futures Trading Commission chairman Christopher Giancarlo on Tuesday criticised the oversight regime of cryptocurrency spot transactions, saying that a “rationalised federal framework” could be more effective at ensuring the market’s integrity.

    • 06 Feb 2018
  • Europe bears lick wounds as S&P 500 takes beating

    Investors who financed bearish European equity positions with US short volatility strategies have been burned as the S&P 500 continued its downward trend on Monday, and realised volatility spiked.

    • 05 Feb 2018
  • Lead MEP demands clearer and simpler procedure on relocation

    EU Parliament rapporteur Danuta Hübner has written a draft report that emphasises the need to "mitigate the discretionary nature" of a draft plan that could force large non-European Union central counterparty clearing houses (CCPs) to relocate to inside the bloc.

    • 02 Feb 2018
  • Gathering storm batters bitcoin

    After months of sensational growth, bitcoin has, at last, faltered. An increasingly hostile regulatory environment has caused its price, which nudged $20,000 in December, to collapse to around $9,000.

    • 01 Feb 2018
  • MUFG rolls out US CDS desk for single name trades

    MUFG is setting up shop in the US credit default swaps market with a desk dedicated to trading single name contracts.

    • 01 Feb 2018
  • Eurex jabs at liquidity gripes, revs up for relocation

    The chief strategy officer of Eurex Clearing, Matthias Graulich, has dismissed claims that euro interest rate swap clearing costs would increase substantially if moved to the EU 27 from London, noting that liquidity indicators for the product are already improving at Eurex.

    • 01 Feb 2018
  • Deriv, cap market groups join forces on Libor

    Trade associations representing derivatives and capital markets have published a road map that they hope will lay the path to a smooth transition away from “ibor” interest rate benchmarks.

    • 01 Feb 2018
  • SPD Bank to fire up London ops next week

    Shanghai Pudong Development Bank is set to open its newly authorised UK branch for business next week, with initial plans for wholesale banking and vanilla securities trading.

    • 01 Feb 2018
  • Barclays cuts hit EMEA levfin head, ECM vice-chair, other senior bankers

    The round of redundancies at Barclays Investment Bank has hit more senior figures, including the head of EMEA leveraged finance, a vice-chairman in ECM, the COO of EMEA banking, as well as other managing directors across the origination businesses.

    • 01 Feb 2018

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 71,795.24 248 8.65%
2 JPMorgan 59,685.75 255 7.19%
3 Bank of America Merrill Lynch 52,401.35 173 6.31%
4 Barclays 50,153.02 148 6.04%
5 Deutsche Bank 44,937.03 167 5.41%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 9,857.42 14 13.05%
2 SG Corporate & Investment Banking 7,833.35 12 10.37%
3 Goldman Sachs 5,773.27 11 7.65%
4 Citi 4,606.54 14 6.10%
5 BNP Paribas 4,132.76 19 5.47%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2,546.04 12 11.21%
2 JPMorgan 1,732.54 10 7.63%
3 Credit Suisse 1,727.84 7 7.61%
4 Deutsche Bank 1,465.10 11 6.45%
5 Citi 1,285.41 7 5.66%