Free content

Credit Suisse is launching its first synthetic small-to-medium enterprise securitization, to be issued from its newly-created Clock Finance vehicle.

Market makers are working with The International Swaps and Derivatives Association to create a new template for credit-default swaps on collateralized debt obligations that would tackle rating agency concerns circling the implied write-down option.

Winnie Cheung, head of equity derivative sales to Taiwan at Goldman Sachs in Hong Kong, is leaving the firm.

A pair of senior equity derivatives traders has left Goldman Sachs in London. Thomas Garidel de Thoran, director, and Hervé Gallo, a single-stock trader, reported to Peter Selman, head of equity derivatives trading in the City.

--Paul Levy, head of exotic credit structuring at Merrill Lynch in London, explaining why the firm pulled its first constant proportion debt obligation.

IXIS Asset Management is offering its first constant proportion portfolio insurance deal referencing asset-backed securities.

The Korean regulator is planning to allow the local issuance of synthetic collateralized debt obligations.

Merrill Lynch nixed a constant proportion debt obligation it had been marketing since October due to changing rating agency methods and because spreads on the underlying indices have shrunk so much the economics of the deal changed.

Merrill Lynch has transferred Duanmu Zhenyu, a senior exotic equity trader, to Hong Kong from New York to assume the role of head of equity structured products trading.