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HSH Nordbank is alleging Barclays Bank cut USD200 million from the value of the two CDOS, Corvus and Nerva, through substituting credits, according to two HSH internal documents obtained by DW.

Hedge funds entering credit-default swaps need to investigate whether commercial bank counterparties could have inside information through their lending business, according to lawyers.

JPMorgan and Citigroup are among several U.S. and European houses looking at ways of selling equity-linked notes to Russian investors.

Morgan Stanley is building its presence in the onshore Korean market and recently brought aboard market veteran Jang Ho Park, head of debt capital markets at UBS in Seoul, to spearhead the initiative.

NDF Administration has launched a five-year equity growth product with early redemption opportunities each year.

Royal Bank of Scotland Financial Markets has hired Andrew Savill, equity structured products marketer at Abbey Financial Markets in London, for a similar role.

This week's Learning Curve deals with the types of market participant, geographic variations and two of the most popular instruments: zero-coupon swaps and year-on-year swaps.

Shawn Riley, director and equity derivatives trader at UBS in London, has left the firm.

--An HSH Nordbank internal document laying out the bank's allegations against Barclays Bank.

The Financial Services Authority is looking at slashing the amount of paperwork proposed in a European Union directive for small transactions between institutional clients.

Remarks by John B. Taylor Under Secretary of Treasury for International Affairs

Cavanaugh Capital Management will add up to $10 million to its position in finance credits if interest rates stay at present levels, according to Tom Graff, principal and assistant portfolio manager of $650 million of taxable fixed income at the Baltimore-based firm.