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Banks welcome UK’s relaxed prospectus rules as IPO pipeline swells
Originator hired to go after bank bond issues in euros and dollars
With Sergio Ermotti set to step down as group CEO, chairman Colm Kelleher favours an orderly, internal succession. But in a critical year for the bank, there could be turbulence ahead
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Investors are increasingly turning their attention to hybrid derivatives in the hunt for yield as single asset class products, particularly in interest rates, fail to produce good enough returns. As a result, market participants are combining FX options with either interest rate or credit instruments. -
After a heady period of expansion, CIMB Bank’s merger and acquisition spree appears to be coming undone. The Malaysian bank is aggressively slashing costs and reducing its headcount. But those vilifying its expansion strategy are missing the big picture. Having established an impressive foothold outside its home base, CIMB should not give up on its regional ambitions now.
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BGC Partners has launched an electronic trading platform for yen interest rate swaps, making it the first interdealer broker to launch a fully electronic platform for such a market.
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Malaysia’s CIMB Bank is scaling back its investment banking business in the Asia Pacific region as it seeks to reduce a ballooning cost base and cut operating costs by about 30% this year, just three years after it forked out £75m ($114m) to buy the Asian and Australian investment banking assets of the Royal Bank of Scotland. The plan saw it shutter its offices in Australia on Monday, in a bid to trim costs across its investment banking and equities franchise.
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The Chicago Board Options Exchange is expanding trading hours for CBOE Volatility Index options and S&P 500 options, adding more than six hours of trading per day, five days a week.
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Investors are now actively trading the UBS delta-hedged short volatility strategic index launched last year that seeks to replicate a series of short S&P 500 options as market participants look to gain risk premium exposure.
