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The International Swaps and Derivatives Association is looking at producing standard documentation and definitions for credit-default swaps referenced to asset-backed securities in Japan.

A straw-poll of conference delegates conducted by Jessica James, director in the risk advisory group at Citigroup, suggested the myth that foreign exchange markets are efficient has been dispelled.

The poor returns from currency investment this year may have damaged the appeal of the asset class to institutions such as pension funds, according to conference speakers.

Market players rushed to the options market last week to purchase puts on the euro against the Norwegian krone, after the Scandinavian currency took a tumble in the spot market on Thursday, following a jump higher on Wednesday.

Credit-default protection on the Philippines widened by over 20 basis points last week amid growing economic concerns.

Structured product issuers are set to be among the beneficiaries of a Securities and Exchange Commission proposal to create a new category of issuers, which officials say could speed up the time it takes U.S. structuring houses to issue public products and also increase the number of deals.

The structured products market in the U.S. has grown by 20%, according to data released at the Structured Products Association's recent Innovations in the Structured Products Industry conference at the New York Stock Exchange.

Project finance or long-term rental agreements often involve fees that are fixed at a certain real level over the life of the trade: the annual payment is a fixed amount adjusted by the cumulative inflation since trade inception.

--Brian Strange, portfolio manager in the currency management group at JPMorgan Fleming Asset Management in London, commenting on pension fund losses in the foreign exchange market.

Analysis of historical data shows the level of a currency pair's volatility can be used to indicate what type of strategy fund managers should use.

Pinder, Fry & Benjamin, a U.K. investment products boutique, is structuring a fund-wrapped product based on a FTSE hedge fund index.

Aladdin Capital Management, a Stamford, Conn.-based firm managing USD1.5 billion in high-yield loans, will launch an open-ended credit fund today with USD50 million of seed capital.