Free content
-
Risk managers, aside from monitoring traditional metrics such as P&L and position limits, may have to start quizzing traders on such esoteric topics as the negation of self, if the example of a National Australia Bank fx options trader is anything to go by -
Total has synthetically converted a recent fixed rate GBP250 million (USD460 million) bond to a floating rate dollar liability.
-
Whilst the use of over-the-counter derivatives in the retail savings and pensions markets could hardly be considered innovative, there is a residual reticence amongst trustees and managers of unit trusts and pension funds to commit fully to the use of derivative products, particularly more exotic products, as part of their long-term investment strategies.
-
SG Cowen is on the prowl for third-party money for its internally managed convertible arbitrage hedge fund, currently seeded only by SG capital.
-
Rival fx traders are pointing to Aussie and Kiwi dollar call options sold last October as the source of a recently uncovered AUD600 million (USD464 million) hole in National Australia Bank's foreign exchange book.
-
Wachovia Securities plans to hire more than 30 derivatives professionals this year for its equity derivatives operations.
-
When the Treasury Department released the latest data on foreign purchases of U.S. securities, covering November of last year, the numbers showed a sharp jump in the demand for U.S. corporate debt to $29.7 billion from $20.9 billion in October.
-
Advest Securities is starting a high-grade corporate bond research effort and has made several hires for its trading, research and sales operations, according to Herb Finn, senior managing director and head of sales.
-
Clinton Group is seeking to amend the indentures on two collateralized debt obligations it manages.
-
Five-year credit protection on General Motors Acceptance Corp. bucked a general widening trend last week before market rumors pushed its spreads into line.
-
--J.T. Knight, a partner with law firm Simpson Thacher & Bartlett, on the potential pitfalls of second-lien loans.
