Search results for

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

Equity derivatives houses have begun structuring derivatives that give investors forward-starting exposure to the recently relaunchedChicago Board Options Exchange's Market Volatility Index (VIX). In practice, however, many firms are trading lookalike structures or exotic trades rather than plain-vanilla forwards referenced to the index itself.

Dollar/yen implied volatility fell in the run up to last weekend's Japanese election because traders were predicting the ruling party will remain in power. One-week implied vol dropped to 9.75% from 10.35% the previous week. The polls indicate that the Liberal Democratic Party is likely to win by a majority and the decrease in volatility reflects this, said Giovanni Pillitteri, v.p. in foreign exchange options trading at Deutsche Bank in London.

Nederlandse Waterschapsbank, a Dutch water board funding authority, has entered a foreign exchange and interest rate swap on a recent six-year USD1 billion bond offering. Tom Meuwissen, head of the treasury in the Hague, said it is the authority's policy to convert all foreign currency liabilities back into euros.

One-month euro/dollar implied volatility slid downward last week as the dollar slowly made a comeback against the single currency. Last Wednesday implied vol on the currency pair traded at 9.9%, down from 10.5% the week before, according to a New York-based trader. The euro/dollar spot rate fell to USD1.15 to USD1.17 in the same timeframe, he said.

Robert Feilbogen, former energy chief at AIG Trading Group in Greenwich, Conn., which included energy derivatives, has filed a lawsuit against the firm for "breach of contract." The complaint, a copy of which was obtained by DW, has been filed with the U.S. District Court of the District of Connecticut. It claims AIG terminated his employment contract in July and that the firm failed to honor a guarantee to pay a USD1.3 million bonus, which Feilbogen claim shad been promised for 2003. In the complaint Feilbogen is seeking lost remuneration and legal costs. AIG announced it was merging AIG-TG with AIG Financial Products in the summer (DW, 6/1). The lawsuit is being pursued against both entities.