December 2005
| Euromoney December 2005 The world’s largest foreign exchange banks have made a mistake in streaming prices to scores of electronic platforms and inviting everyone to participate in them. Now, they want to take back control. As Lee Oliver finds out, a new bank-only system is being touted as the answer. Who is behind it, and will it succeed? |
Euromoney December 2005
There’s little to choose between the world’s two heavyweight institutional fund managers as they square up to fight for profitability. BGI and SSgA both have commendable records and both are now testing out new strategies.
Euromoney December 2005
Euromoney December 2005
GSAM's boutique structure provides a potential model for other asset managers.
Euromoney December 2005
Until recently only multilaterals with a regional mandate, such as the ADB and IFC, have shown much interest in issuing bonds in Asian currencies. But KfW is planning a three-pronged attack on local-currency issuance in 2006.
So are local markets about to take off?
Euromoney December 2005
Chinese bonds have no relative value. Its equity market is convoluted and stagnant. So why all the hype and hysteria? Theodore J Kim reports.
Euromoney December 2005
M&A activity is changing the Asian banking landscape and the relative positions of banks in Euromoney’s rankings.
Euromoney December 2005
Thai and Malaysian companies performed strongly in this year’s annual survey of which companies leading financial analysts rate as the best in Asia. Paul Pedzinski reports.
Euromoney December 2005
Brazil’s hedge fund industry is growing up. Two trends in particular stand out: foreign investors are seeking out local players through which to invest; and funds are evolving their strategies. Sudip Roy reports from São Paulo.
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Brazil’s biggest private sector bank is a retail powerhouse. But Bradesco’s president Márcio Cypriano tells Sudip Roy that the bank intends to beef up its capital markets business.
Euromoney December 2005
The massive shift of equity ownership needed in post-apartheid South Africa was always going to be a tough task. There will never be a template for deals, but a range of structuring and financing strategies are taking shape. Mark Brown reports from Johannesburg.
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Capital market practitioners have failed to develop the necessary credit skills to assess and absorb infrastructure risk. Now as Philip Moore reports, these shortcomings are being addressed.
Euromoney December 2005
Banks are expanding their presence in energy trading – again. But with two established incumbents, is there enough profitable business for the newcomers? Kathryn Tully reports.
Euromoney December 2005
Euromoney December 2005
Algorithmic trading is transforming the secondary equities market and the brokerage business. Its growth seems inevitable, but what will the consequences be? Peter Koh reports.
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Conditions attached to buy-out completion is more a sign of desperation than discernment.
Euromoney December 2005
But Singh’s government must hold steady on the road to reform.
Euromoney December 2005
First non-investment grade trade shows the spoils to come in distressed debt trading.
Euromoney December 2005
Can wealth management truly thrive within the confines of an investment bank?
Euromoney December 2005
Investment banks need to think carefully about which institutions they market their services to.
Euromoney December 2005
Trichet’s statements have profound implications for some EU member states
Euromoney December 2005
The wounds from the region’s financial crisis may have healed on company balance sheets but the trauma remains
Euromoney December 2005
Proposals in the French budget bill for 2006 and discussions in parliament last month could lead to significant changes in France’s public sector debt and risk management. Risk management role for AFT as Cades remains separate borrower.
Euromoney December 2005
Euromoney December 2005
Report says lower risk weighting will encourage banks to look at MMFs.
Euromoney December 2005
Hidden issuers are using swaps rather than bonds
Euromoney December 2005
The Japanese bank no longer appears to be targeting the frequent issuers business.
Euromoney December 2005
No one saw BoA’s move for “Mimmo” coming – it was an audacious raid.
Euromoney December 2005
Resolution becomes a new type of insurance participant in the Tier 1 hybrid insurance capital sector.
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
From an asset class perspective, the CDO sector dominates the pipeline and within that sector CLO issuance is at the vanguard.
Euromoney December 2005
The procedure is an important step towards the cash settlement of the entire CDS market.
Euromoney December 2005
SovRisc is capital markets disintermediation and may transform the $50 billion export loan guarantee business.
Euromoney December 2005
Explanations for the market's significant retreat in November are more complex than for previous years.
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Regulators can congratulate themselves after continuous linked settlement worked, but mutterings of serious shortcomings carry on.
Euromoney December 2005
Demands for compensation from two currency option brokers over the rogue trading scandal of January 2004, presents the market with another act in one of the most entertaining financial farces for years.
Euromoney December 2005
Cantor Fitzgerald offshoot BGC is being coy about the apparent closure of its spot FX broking business.
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
A spate of poor deals gets the investment bankers thinking. After a difficult October, in which initial public offerings met with a variety of fates, attention last month swung once again to the IPO process itself.
Euromoney December 2005
Hurricane Katrina blamed for extreme changes in cross-border flows.
Euromoney December 2005
Greater anonymity, leverage and lower trading costs are seen as incentives.
Euromoney December 2005
Banks get together to create industry utility.
Euromoney December 2005
Euromoney December 2005
UK Takeover Panel amends its rules on contracts for difference.
Euromoney December 2005
Euromoney December 2005
But UK regulator will not ask for position data.
Euromoney December 2005
GSAM's boutique structure provides a potential model for other asset managers.
Euromoney December 2005
Euromoney December 2005
Citigroup to take on $11 billion of risk in a single package.
Euromoney December 2005
Euromoney December 2005
Cash offer for O2 prompts concerns that telecoms sector might be about to embark on another debt binge.
Euromoney December 2005
Companies take advantage of the growing popularity of the Fundo de Investimento em Direitos Creditórios, or the FIDC market. The Brazilian ABS fund, (FIDC) is growing in popularity as it enables companies to improve their debt situation by reducing the cost of funding and lengthening tenors.
Euromoney December 2005
Deutsche survey finds CFOs think they are great at what they do.
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Most of the key investments in China’s largest state-owned banks have been settled, but international investors are still eager to pour money into the sector. ICBC, NCCB and Hua Xia Bank are all on the receiving end.
Euromoney December 2005
Modest though it might appear, China's first fully-fledged buyout of a state-owned enterprise is significant.
Euromoney December 2005
Euromoney December 2005
As bankers work feverishly to complete mandated China and Hong Kong IPOs before the final window shuts ahead of the Christmas break, there are hints of investor indigestion.
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Latin America’s two biggest equity markets have agreed to integrate as part of a pilot scheme to bolster liquidity in the region. Brazilian and Mexican investors to gain access to each other’s markets.
Euromoney December 2005
Euromoney December 2005
Brazilian and Mexican derivatives markets gain sophistication.
Euromoney December 2005
Euromoney December 2005
Latin America's debt markets are proving their worth in financing big projects.
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Foreign investors concerned about the effect on bond prices.
Euromoney December 2005
Noriba exits some investments early after strong performance.
Euromoney December 2005
Middle Eastern private investment and advisory firm Injazat Capital is launching a $100 million Islamic-compliant healthcare fund this month.
Euromoney December 2005
Lack of liquidity and diversification still restricts managers’ strategies.
Euromoney December 2005
Euromoney December 2005
Euromoney December 2005
Japanese equities are at the start of a sustained bull market that in the next two years will take the Nikkei well above 20,000 from its current 14,000 level.
Euromoney December 2005
Originally established under the white minority regime to compulsorily house non-white labour outside the cities, South Africa’s townships are now obvious targets for a nascent low-income housing finance market.