Exchange-traded notes (ETNs)
Barclays frees up £4.5bn RWAs after overissuance clean-up
The bank unwound hedges that safeguarded its buyback of mis-sold US notes
Asset managers want better access to spot crypto market
Top buy-side exec bemoans constraints in debate on use of futures versus spot for cryptocurrency
A bitcoin ETF could threaten the world’s biggest crypto fund
Regulated funds may suck away demand for Grayscale’s off-exchange investment trusts
Short funds’ moment in the sun is over
DSB funds are in the red year-to-date after a spectacular performance through March
Reflections on recent volatility
This paper deals with the unprecedented equity volatility in the second week of February 2018. The paper recaps the week, places the market movement in a historical context, discusses how some traders and funds were affected and offers a few guesses as…
Short-vol products pose new risk to investors, experts warn
Vix manipulation reports may be leading investors to pile back into risky short-volatility products
Volatility trap: how gamma roused a market monster
Rates market is exposed to some of the same factors that caused equity volatility to explode in February
XIV hedging rule helped protect Credit Suisse
Swiss bank guarded against ETN’s collapse by requiring counterparties to provide hedges in exchange for new units
Structured products house of the year: UBS
Risk Awards 2018: Swiss bank connects clients with cheap execution and innovative investment products – even when offered by rivals
Vega volumes triple on Vix spike
Rebalancing of Vix ETPs spurred record trading in Vix futures on August 10
Complex short Vix products draw fire as vol plumbs lows
Hedging effects mean popular exchange-traded products vulnerable to big losses if volatility spikes
Vexed by Vix: post-Brexit squeeze sparks fears of losses
Rerun of short squeeze on Vix futures could backfire on speculators
Dealers rue loss of US structured product issuance freedoms
SEC’s removal of special status from select banks hits marketing and issuance capacity
New US tax rules could hamper ETN market, dealers warn
IRS’s forthcoming Section 871(m) rules could inadvertently capture legacy ETNs
Dislocations highlight risks of commodity ETNs
Notes face scrutiny after problems with Barclays’ OIL and GAZ products
Risk manager of the year: Credit Suisse
Bank’s fluid approach to risk recycling allows tighter pricing than slower rivals
The introduction and advent of structured products in the US
Sponsored interview: Morrison & Foerster
SG offers hedge fund strategies in new LSE-listed ETN
Hinde Capital long-short strategy at the heart of new LSE-listed ETN
Finra rejects ‘more than half’ of structured product adverts
‘Blast emails’ to retail investors a major offender under Rule 2210
Structured products house of the year, Americas
Structured Products Americas house of the year, JP Morgan
SEC mistaken to assume ETNs are retail products, say critics
Regulator urged to focus on sophisticated and institutional investors