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Primus Asset Management is bringing to market a collateralized debt obligation which features notably low subordination on the highest-rated tranche.

The latest in a string of U.S. rate rises is tipped to bring about a wave of structuring innovation in equity derivatives.

Merrill Lynch has hired Sowen Ng, executive director at Morgan Stanley, as a managing director for the Hong Kong global fx sales desk.

Rabobank is launching a New York equity and fund derivatives group and has hired two structurers to pioneer the effort.

The Royal Bank of Scotland has boosted its credit derivative presence in the region, kick starting a trading desk in Singapore and making a senior hire in the form of Mark Sewell.

Following on from last week's discussion of the impact of Standard & Poor's new synthetic collateralized debt obligations ratings model, S&P describes the workings of the model itself.

Standard Bank is bringing aboard a 15-20 person team from HVB Asia in Singapore, including its lauded securitization group.

Steven Mills, managing director and head of European credit products trading at Wachovia in London, has left the firm.

A slowdown in secured loan credit-default swap trading over the past month looks set to be over after credit derivatives giant JPMorgan has started trading its own book.

Demand was keen for yen calls/U.S. dollar puts last week after the greenback recovered from eight-month lows of JPY110.11, reaching JPY110.38.

Owens Corning's bonds jumped 20 points on the announcement that its bondholders will receive equity in the company when it emerges from bankruptcy.

China watchers are readying for the expected launch of index futures in the coming months, which should give a boost to OTC products. Winston Wenyan Ma, author of Investing in China- New Opportunities in a Transforming Stock Market, based in New York, said following the launch of stock index future products in the coming months on the Shanghai Financial Derivatives Exchange, a stock shorting mechanism may be permitted. With futures and stock shorting in place, market officials said it will be easier for dealers to structure OTC products offshore and hedge them locally.