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  • Market smile gives information about the marginal distributions of the underlying. The information is enough to price all European products without any confusion. This includes for example call-spreads, risk reversals, strangles, parabola contracts, log contracts and so on.
  • White & Case has hired Heather Pilley, consultant at Linklaters in London, as a partner. Francis Fitzherbert-Brockholes, co-head of the capital markets group in London, said the firm hired Pilley to increase its depth in derivatives and support its collateralized debt obligation practice.
  • Yapi Kredi Bank (Nederland) is considering boosting its investments in credit-linked notes and is eyeing collateralized debt obligations for the first time. Orhan Altas, head of treasury, said the firm is waiting for spreads to widen before making the plunge, adding that it tested the product last year and is happy with the result. He estimated that the bank could invest 3-5% of the firm's USD350 million of assets. "It is a growing market. You can never close your eyes to this development," said Altas.
  • 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.
  • BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.