UK

JP Morgan’s credit product development group (CPD), formed in August and headed up by former syndicate global co-head Ryan O’Grady, has added seven new members.

The largest telecom services reseller in the UK, Daisy Group, on Tuesday opened a four day roadshow for its debut high yield bond, unfazed by Brexit tensions in the sterling market.

The UK’s Financial Conduct Authority has proposed to ban the use of restrictive clauses in deal documents that aim to tie bank clients of one service to other services in the future, and is also looking to clamp down on banks' use of league tables to pitch for business.

In a troubled European IPO market, the $1.8bn-plus flotation of ConvaTec, the UK medical supplies maker, is covered at its base deal size, three working days into the bookbuild.

Luceco, a maker of electrical wiring products and LED lights, made its debut on the London Stock Exchange on Monday after raising £93m, amid an IPO market in which many bigger and higher profile deals have come to grief.

Intercontinental Exchange is aiming to beat the London Metal Exchange in a race to offer a London gold futures contract, by rolling out a product in February to support central clearing.

BNP Paribas has brought together its global listed derivatives businesses on a single platform hosted by UK software and services company Fidessa.

Misys, the UK banking software company, has been buffeted by the turbulence that has beset the European IPO market over the last two weeks, as it launched the bookbuild for its £650m to £750m IPO on Monday with a lower free float than initially planned.

Biffa, the UK waste management company, relaunched its IPO on Friday morning after the deal failed to attract enough demand at the original price range. The deal is covered at the new terms.

Icap has bought Abide Financial, a global regulatory reporting specialist.

Barclays, Lloyds Bank, Nomura and Royal Bank of Scotland will run the sale, scheduled for the week beginning October 24.

A former managing director at Deutsche Bank has joined Royal Bank Scotland's corporate origination team.