BNP Paribas
Dealer interest delays LCH.Clearnet and DTCC deal
The Depository Trust & Clearing Corporation (DTCC) has pushed back the deadline for its takeover talks with LCH.Clearnet, in the face of a rival bid from a group of major dealers.
LCH.Clearnet bid sparks conflict-of-interest debate
A proposal by a consortium of major derivatives dealers to acquire London-based clearing house LCH.Clearnet has led to suggestions that banks becoming intimately involved in the clearing process could present a conflict of interest.
LSE may join LCH.Clearnet bid consortium
The London Stock Exchange (LSE) today confirmed that it is "looking closely" at joining the consortium of financial institutions bidding for London-based clearing house LCH.Clearnet.
Financial CDSs widen worldwide
Fading investor confidence in the stability of financial institutions has caused the cost of credit protection on banks across the globe to increase over the past 24 hours.
CDSs on Fortis tighten
The cost of credit protection on Dutch and Belgian bank Fortis narrowed this morning, after Fortis chairman Jozef de Mey and BNP Paribas chief executive Baudoin Prot told media the takeover deal between the two banks is still alive.
Steinberg leaves BNP Paribas
Todd Steinberg, New York-based head of equity and commodity derivatives for the Americas at BNP Paribas, has resigned from the bank.
US and European firms in bid for LCH
A consortium of major US and European financial institutions is lining up a bid for London-based derivatives clearing house LCH.Clearnet. Deutsche Bank is acting as adviser on the acquisition, as well as being part of the bidding group.
Stark to head new institutional group at BNP
BNP Paribas has formed a new institutional relationship management group and appointed Talbot Stark to lead it.
Deutsche Bank expects €4.8 billion Q4 loss
Deutsche Bank announced on Wednesday it anticipates a €4.8 billion loss in the fourth quarter of 2008, which would mean a full-year loss of €3.9 billion.
Stabilisers for all
BNP Paribas has launched the Privalto Stabiliser, a six-year simple growth product linked to equity, commodity, currency and property. Capital protection is included as part of the package unless the early exit feature is exercised
Popular volatility indexes plunge
Record high levels of volatility in the equity market since September have caused huge losses on popular indexes that allowed investors to take short implied volatility positions.
European CDSs continue to climb
The cost of credit protection on European banks increased in early trading today, while market sentiment towards US financial institutions remained favourable.
BNP creates distressed finance group
BNP Paribas has established a new distressed finance group, to be led by Alain Dib. Dib, previously co-head of European high-yield capital markets, will remain in London.
BNP Paribas loses head of insurance and pensions
Mark Azzopardi, London-based head of insurance and pensions at BNP Paribas, has left the bank for a role with asset manager AllianceBernstein.
Best in Japan - BNP Paribas
Structured Products Asia Awards 2008
Bank monoline exposures creep up in second quarter
Second-quarter results yielded further markdowns at major dealers due to the increasing counterparty risk posed by monoline insurers.
BNP adds Zuberi to US structured credit desk
BNP Paribas has appointed Adnan Zuberi as a director on the structured credit desk in New York. He reports to Jerome Wong, the head of credit structuring for the Americas.