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This chart, provided by Citibank/Salomon Smith Barney Inc., tracks bid-ask prices for par credit facilities that trade in the secondary market. It also tracks facility amounts, ratings, pricing and maturities.

Dresdner Kleinwort Wasserstein has integrated its portfolio trading group into its U.S. equity operation and formed a committee comprising four U.S. equity heads briefed with formulating a strategy to develop and grow the firm's U.S. equity franchise. Meanwhile Tim Clorite, global head of portfolio trading and head of U.S. equities in New York, has exited the firm, said Karen Laureano-Rikardsen, spokeswoman in New York. Tom Jardine, head of U.S. distribution of derivative products and programs, is taking over Clorite's portfolio trading responsibilities as global coordinator for portfolio products, in addition to being a member of the committee.

The Spanish government gave synthetic securitizations the go ahead when it passed a law in September, but, the Bank of Spain has not yet indicated whether it will grant issuers regulatory capital relief, according to officials familiar with the situation.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

Equity derivatives houses have begun structuring derivatives that give investors forward-starting exposure to the recently relaunchedChicago Board Options Exchange's Market Volatility Index (VIX). In practice, however, many firms are trading lookalike structures or exotic trades rather than plain-vanilla forwards referenced to the index itself.