North America

The SEC has hired a former JP Morgan market structure specialist to run the agency’s trading and markets division.

Bank of Montreal (BMO) became the first Canadian name to issue a covered bond in euros since March with a €1.5bn trade on Thursday.

Baidu has picked banks to list its video streaming arm in the US, as a host of Chinese issuers stormed into Wall Street this week for their IPOs.

Qudian priced its $900m US float above the initial range this week, then soared as much as 48% on its debut, underscoring investors’ ravenous appetite for Chinese fintech stocks.

Singapore Exchange (SGX) is stepping up its efforts to attract new listings by partnering with Nasdaq, as Asian issuers increasingly look to tap global investors.

A day after announcing results, Morgan Stanley came to the euro market on Wednesday with two tranches of senior debt bringing the bank’s total issuance in the currency so far this year to €6.25bn.

Chinese micro-lender Qudian has bagged $900m from its US listing, after robust demand allowed it to price the stock above the initial range, according to a banker close to the deal.

China’s economic growth will do little to help promote renminbi internationalisation, according to an October 17 report by Swift. The comment came as the renminbi falls to eighth place in the league table of the world’s most used payment currencies.

Singapore Exchange (SGX) has opened its first US office in Chicago, as it aims to meet institutional investors' demand for exposure to Asian markets.

Development finance institutions the European Bank for Reconstruction and Development (EBRD) and International Finance Corp have lent €215m to Vetroelektrane Balkana (WEBG) to develop Čibuk 1, the largest wind farm in Serbia and the western Balkans.

Baidu-backed iQiyi, a video streaming platform in China, has selected three banks to prepare an IPO in the US, which is expected to raise $1bn-$2bn, according to a banker close to the deal.

UK grocer Tesco and US telecoms company Verizon both announced tender offers for some of their outstanding bonds in euros and sterling. Tesco is offering to buy up to £700m equivalent, while Verizon will confirm the size of its repurchase once it has sold new euro and sterling bonds.