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.

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

KGI Securities, one of Taiwan's largest derivatives houses with assets totaling over TWD38.38 billion (USD1.14 billion), is setting up an over-the-counter equity derivatives business and has hired senior bankers from Morgan Stanley and Merrill Lynch to spearhead the effort. Jerry Wu, executive director and equity derivatives marketer at Morgan Stanley in Hong Kong, will start later this month as regional head of equity derivatives, and Howard Tong, former director of global equity markets at Merrill in Hong Kong (DW, 3/11/02), is taking the head of equity derivatives marketing role. "The management wants to reposition itself as a regional player and equity derivatives is a part of that," said Tong. He explained that the firm first focused on building up a fixed income operation in Taipei is now shifting toward the equity side.

The anticipated growth of a secondary market in collateralized debt obligations has thrown the legitimacy of trustee reports into question and brought up concerns about insider trading. Investors receive trustee reports about their positions, which are not automatically available to the rest of the market, and this could mean they have insider information, according to lawyers. Although the laws vary in each country, the principals are the same across Europe and the U.S., noted several lawyers.

BNP Paribas plans to hire three credit derivatives traders and a structurer as part of an expansion of its credit derivatives operation in Asia. Although overall volumes in credit derivatives are down Stephane Delacote, Asian head of credit trading in Tokyo, sees more demand for index-related products and this is the impetus for the hiring. "I'm confident that there will be more and more trading. The trend is for more transparency and more commoditized products, which will bring greater volumes," explained Delacote.

Singapore's largest derivatives house, DBS Bank, is setting up an onshore Korean interest rate trading desk in the coming months. The move follows that of several international and local firms, such as Bank One (DW, 2/23) and United Overseas Bank (DW, 9/23). "The derivatives market here is still getting bigger and bigger," said Young Cheon Kim, head of trading in Seoul.