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Citi's former correlation trading star takes on new risk head role
2 years ago
Citi's former head of credit correlation trading has taken on a new role in the bank, becoming head of in-business market risk for global markets -
"No-one talks about the part oil price surges played in the 2008/9 global financial crisis"
2 years ago
Investors eyeing inflation shocks and supply chain disruption should instead be paying attention to the brewing energy crisis -
Dispersion trades in play as transatlantic rift opens
2 years ago
The return of idiosyncratic risk at the wide end of US and European high yield markets has put index equity tranches for the two jurisdictions on noticeably divergent paths, say correlation traders -
Zais and BNP Paribas strike ESG breakthrough with climate change CSO
2 years ago
The growing theme of environmental, social and governance standards helping to revitalise the market for collateralised synthetic obligations appears to have taken a big step forward, with Zais Group and BNP Paribas partnering on a first-of-its-kind deal that could lay a template for future transactions -
Ashurst boosts structured finance and derivatives practice as it brings in partner
2 years ago
Law firm Ashurst has hired a structured finance and derivatives specialist as a partner in its global markets practice -
Millennium senior tranche trader jumps to Verition
2 years ago
An experienced synthetic structured credit trader has left Millennium Management in New York to join Greenwich headquartered Verition Fund Management -
Squarepoint draws big name options market maker to buy side
2 years ago
An experienced credit options trader has decided to join the systematic and quant strategies manager in a change of career from working on the sell side -
Ashurst hires senior structured credit and derivatives lawyer
2 years ago
Law firm Ashurst has added a partner to its global markets practice in New York -
Credit index tranche trading on the rise amid low dispersion
2 years ago
At its halfway point, 2021 is shaping up as another big year for credit index tranche trading, with new investors having entered the market and dealers projecting full-year volume could vie with 2020’s record of recent times. -
Tranche trader leaves Apollo for sell side
2 years ago
BNP Paribas has filled a gap in its structured credit trading group with the hire of an index tranche market maker -
"In the afternoon I awoke from a pile of willow leaves to discover we had created a Welsh ether-based token"
2 years ago
A localised crypto-currency boom and bust cycle teaches Welshcake (again) that everything becomes correlated in a downturn -
Resurgent CSO market bets on ESG and new equity
3 years ago
After a challenging 2020 the synthetic bespoke market has begun this year in style, with a pipeline of deals, talk of new investors and hopes that ESG could play a key role in driving deal volumes -
CLO guys shouldn't feel quite as self-important as us Welsh... But you are in a pretty amazing spot
3 years ago
CLO portfolio managers should be emboldened by recent events to push for ESG strategies -
I'm a nosy neighbour... get CSO deals public and embrace the age of information
3 years ago
A year of staying under the radar has not helped the CSO market -
Equity tranche shorts gather for fallen angels
3 years ago
Investor views are starting to form around on-the-run iTraxx and CDX index tranches, following their rolls into new versions at the end of September and start of October -
Tranche traders smell the coffee as Crossover default percolates
3 years ago
Selecta Group looks set to become the third European credit event in as many months to hit series 33 of the iTraxx Crossover index and tranches based on series 32 -
IG tranches look 'boring' after distressed names ejected at roll
3 years ago
September’s index rolls brought tranche traders some of the starkest portfolio changes in recent years, with fallen angels and defaults shifting correlation dynamics. This creates relative value openings, but investors will take longer to move into new series as they require extra analysis, say dealers. -
Tranche market maker jumps to buy-side
3 years ago
BNP Paribas' New York based market maker for credt index tranches has left the bank after seven years -
Opportunities knock as Credit Dimensions returns in vibrant tranche market
3 years ago
Creditflux will showcase the cutting edge of CDS market developments next week as Credit Dimensions, our annual deep-dive into structured synthetic credit, returns in a virtual format -
Index tranche volumes go into overdrive as CSOs stall
3 years ago
CDS index tranche trading has gathered pace during the coronavirus pandemic, putting the asset class on course for a post-2008 crisis record. -
CDX HY and tranches hit as Whiting protection buyers win big pay-out
3 years ago
Whiting Petroleum CDS have settled at a final price of just seven cents, meaning a 93 cents pay-out to buyers of protection on the Denver headquartered exploration firm -
Frontier triggers credit event but HY equity tranches outperform
4 years ago
Frontier Communications has triggered a bankruptcy credit event, the Americas Determinations Committee has confirmed. This is the fourth credit event to hit recently off-the-run index CDX HY series 33, on which on-the-run index tranches are based and for which recoveries have so far been very low -
Short-dated CSOs touted as jump-to-default risk hits curves
4 years ago
The coronavirus outbreak has all but vanquished hopes of any regular CSO business getting done, but sources say bespoke portfolios of short-dated CDS could soon be in the offing as investors look to express a view on when the crisis will end. -
Jefferies shelves structured synthetic plans as key man departs
4 years ago
Jefferies has put on ice its plans to build out a synthetic CDO origination, structuring and trading unit, having parted ways with the veteran specialist tasked with driving the venture -
Change at top for Citi correlation trading as head assumes chief risk officer job
4 years ago
A long-serving managing director at Citi has taken sole charge of correlation trading, after the previous head of credit correlation moved to a newly created role
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