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Synthetic collateralized debt obligation structurers hunting for assets ensured that any spread widening was immediately quashed.

Collateralized debt obligations of asset-backed securities have become the most popular type of CDO, but that has caused ABS spreads to tighten and may mean some managers can't ramp up their deals.

Convertible bond arbitrage funds will increasingly hedge option implied volatility as the market gets more competitive.

Daiwa Securities SMBC is planning to follow up on the first-ever rated collateralized equity obligation it recently launched in Japan with up to six deals this year.

Invensys, a troubled U.K. technology manufacturer, recently completed a refinancing package and is considering converting a proportion of the USD550 million and EUR475 million (USD580 million) debt to sterling.

JPMorgan has hired Richard Liang, structurer at ING Financial Markets in Hong Kong, for a similar role in its structuring solutions group in Hong Kong.

Deutsche Bank plans to start marketing correlation-linked and volatility products to private wealth management customers.

Daniel Bystrom, a director in equity derivatives trading at Merrill Lynch in New York, has left the firm.

JPMorgan is restructuring its Hong Kong dollar rates business and has hired Medes Ma, credit trading manager at Crédit Agricole Indosuez in Hong Kong, for the effort.

Lehman Brothers has hired Fidelis Oruche, foreign exchange options trader at AIG Trading Group in Singapore, for a similar role in its regional trading hub in Tokyo.

Life companies are increasingly becoming prospects for investment banks' structured product business for their own accounts and as a conduit to their clients.

London Pension Fund Authority, with GBP2.7 billion (USD4.89 billion) is holding a meeting on Thursday to discuss whether to pursue its interest in derivatives.