Free content

Last week's market correction--which drove credit spreads up from all-time lows--allowed a number of dealers, including JPMorgan and RBC Capital Markets, to print collateralized debt obligations they had been unable to execute weeks and months earlier.

Marc Freydefont, director in structured credit trading at Credit Suisse in London, has left the firm.

Convexus Advisors, a quantitative hedge fund startup in San Francisco, has hired Richard Griffin and Jonathan Ross, co-founders of the derivatives structuring group at Babcock & Brown, as ceo and coo respectively.

The sharp correction in the Asian equity markets last week is expected to take its toll on sales of participatory notes referencing local stocks.

--Ben Wilkinson, global head of structured credit trading and equity derivative product at Bank of America in London, on how last week's equity sell-off has increased credit spread volatility but also brought opportunities for printing collateralized debt obligations.

The Loan Syndications and Trading Association will be holding a meeting of the material non-public information working group next Thursday, March 8. It will be the first time both the buyside and the sellside will be working together; previously they had their own separate working groups.

Asset manager INVESCO is planning a second close next week of its first long/short synthetic collateralized debt obligation.

The commercial mortgage backed derivative index, the CMBX, widened about 22 basis points in one day last week, prompting concern the panic-selling traders have dubbed as 'ABX flu' was spreading.

JPMorgan is reorganizing equity derivative flow sales in London under new hire Adrian Valenzuela, who previously headed flow sales at Merrill Lynch.

Emporia Capital Management is marketing its third collateralized loan obligation, the first since it added a loan origination team last year.

Golub Capital is preparing to price its third securitization, a $400 million portfolio with Wachovia Securities.

Sparks were flying at the Loan Syndications and Trading Association's Introduction to the Loan Market Documents & Market Practices Conference Feb. 16.