North America

The pre-summer IPO season is in full swing as issuers and banks look to lock in deals before investors pack their bags for the holidays.

Proponents of the ISDA Common Domain Model say that if properly implemented, it could generate major cost savings for financial institutions. But what is it, what prompted its creation and how could it work with distributed ledger technology?

The New York Stock Exchange is set to launch options on its tech FANG+ index on June 11 this year.

Covered bond deals issued in the five to seven year part of the curve on Wednesday by ING Belgium, Berlin Hyp (BHH) and The Fédération des caisses Desjardins du Québec (FCDQ) were all well received and stood in stark contrast to a 10 year from Nationwide.

On Wednesday, US electrical appliance manufacturer Whirlpool became the second investment grade corporate borrower to pull a deal in a week. German energy company Innogy and Whirlpool both found the corporate bond market tough going on Wednesday, despite having employed two-day marketing strategies. Whirlpool, however, took the hardest hit.

Delaware-based chemicals group Chemours added to the surge of reverse Yankee issuers with a new euro deal this week, as sources report growing interest from non-European bond investors in the currency.

The Commodity Futures Trading Commission on Monday made two big moves to develop the oversight of cryptocurrencies and their derivatives, revealing a new agreement with state regulators and fresh rules for exchanges and clearing houses.

Institutional asset owners have increased their use of smart beta strategies in 2018, but the adoption rate has slowed compared with recent years, according to a survey by index provider FTSE Russell.

European corporate bond market participants are hoping a public holiday on Monday will provide the market with a fillip when it reopens on Tuesday. There was a soft end to the prior week in both primary and secondary.

Chinese tutoring service provider Puxin Education & Technology Group has filed draft documents for an IPO of American Depository Shares (ADS), targeting $300m, according to a banker on the deal.

The Chinese central bank ushers in measures to support offshore renminbi liquidity ahead of MSCI’s A-share inclusion, the London Stock Exchange (LSE) showcases a grand plan to link its stock market with Shanghai, and Beijing and Washington hold back on tariffs after Liu He’s visit to the US.

The highly anticipated IPO of iZettle, the Swedish payments company, has been called off, as PayPal has struck a deal to buy the company.