UK

The UK High Court has said that a former Deutsche Bank trader’s suit to claim crisis-era bonus payments “has no realistic prospect of success”.

CYBG, the UK mid-sized bank owned by National Australia Bank, will start building the book for its initial public offering in London next week.

This year’s first high profile IPO in Europe began today, when CMC Markets, the financial spread betting firm founded by Peter Cruddas, announced its long-expected intention to float in London.

One of the bond market's best known heads of treasury has stepped down and is heading to another financial institution, GlobalCapital understands.

Nationwide Building Society has continued its funding surge into 2016, offering sterling investors a rare chance to pick up long dated senior unsecured paper from a UK lender.

The Bank of England is proposing to allow banks to take back the bonuses they pay to buy financiers out of their contracts with competitor firms.

TriOptima, the over-the-counter post-trade services provider, has teamed up with AcadiaSoft to launch a margin processing service, ahead of new rules on uncleared derivatives.

Banks on Euro Garages' £745m acquisition debt package have set price talk, with bank meetings taking place on Tuesday.

The Basel Committee on Banking Supervision has agreed not to increase the leverage ratio requirement — a big win for banks already struggling to stay abreast of new capital rules.

Pioneer Investments has set up a new fund to target the returns available in subordinated FIG debt, in response to the paltry yields on offer in the investment grade credit sector.

Vedanta Resources has launched a tender offer for a portion of its $1.25bn 5.5% convertible bonds due this year to be executed via a modified Dutch auction method, according to its dealer banks.

The International Swaps and Derivatives Association will tighten up the rules governing members of its Credit Derivatives Determinations Committee as it looks to strengthen the process for deciding whether credit events have occurred.