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Derivatives

Derivatives are financial instruments that derive from an underlying asset such as a commodity, bond or currency. SCI’s derivatives coverage focuses on the structuring and trading of derivatives relating to securitisation and structured credit. The instruments covered are primarily: credit default swaps (CDS) and options; correlation trading through index tranches; total return swaps on credit and loan indices and baskets; bespoke tranches; and other new and unusual synthetic structures.

  • Risk transfer round-up - 23 January

    CRT sector developments and deal news

    Caixabank is rumoured to be prepping a consumer SRT for this year. The lender printed its last trans...

    News    23 January 2020
  • Risk transfer round-up - 22 January

    CRT sector developments and deal news

    BBVA is rumoured to be readying a capital relief trade for 1Q20. The transaction would be the lender...

    News    22 January 2020
  • CEE SME guarantee increased

    Sector developments and company hires

    EMEA Alvarez & Marsal has launched a European debt advisory practice with the appointment...

    Market moves    21 January 2020
  • Consumer boost

    Santander completes innovative SRTs

    Santander has completed two synthetic securitisations of consumer loans. The transactions are the ba...

    News    16 January 2020
  • Hong Kong ABS recommendations released

    Sector developments and company hires

    Alternative risk transfer Arthur J Gallagher has increased its interest in Capsicum Reinsurance B...

    Market moves    14 January 2020
  • Landmark CLN finalised

    Santander completes undrawn RCF trade

    Santander has completed a €147m CLN that is backed entirely by undrawn corporate and financ...

    News    10 January 2020
  • Leasing guarantee

    EFL completes capital relief trade

    The EIF and Europejski Fundusz Leasingowy (EFL) have completed a synthetic securitisation of an unus...

    News    9 January 2020
  • THEAT 2007-1 and 2007-2 set to repay

    Sector developments and company hires

    Asia Pacific ISDA has appointed Su Yen Chia as its new head of Asia-Pacific public policy. Chia p...

    Market moves    7 January 2020
  • CQS SRT finalised

    Unusual reference pool securitised

    An unusual significant risk transfer transaction referencing a €1.78bn static portfolio of...

    News    24 December 2019
  • MNHD plans programmatic issuance

    Sector developments and company hires

    Egyptian securitisation debuts Egyptian real estate developer Madinet Nasr Housing and Development...

    Market moves    23 December 2019
  • Nordic SRT inked

    Nordea returns with capital relief trade

    Nordea has priced a €5.1bn synthetic securitisation of Nordic corporate and SME loans. Dubb...

    News    20 December 2019
  • Risk participation programme agreed

    Sector developments and company hires

    CLO vulnerabilities eyed The Financial Stability Board has published a report assessing the financi...

    Market moves    19 December 2019
  • UK auto SRT finalised

    Santander completes retained first-loss deal

    Santander has completed a synthetic securitisation of UK auto loans. Dubbed Motor Securities 2018-1,...

    News    18 December 2019
  • Structured credit pro returns to the buy-side

    Sector developments and company hires

    EMEA Kingswood Holdings has appointed Lindsey McMurray and Howard Garland to its board from Polle...

    Market moves    17 December 2019
  • Economic efficiency

    Standardised bank SRT pros, cons weighed

    Various factors should be considered when contemplating whether to execute a significant risk transf...

    News Analysis    16 December 2019
  • Risk transfer round-up - 16 December

    CRT sector developments and deal news

    Deutsche Bank is rumoured to be readying a capital relief trade from the CRAFT programme. The last C...

    News    16 December 2019
  • Mixed motivations

    THRP sets stage for US bank CRT

    A combination of macro and micro factors are understood to have influenced the issuance of JPMorgan&...

    News    13 December 2019
  • Mutual agreement

    BPPB SRT debuts

    Further details have emerged about the EIF and Banca Popolare di Puglia e Basilicata’s (BP...

    News    9 December 2019
  • Grattan refinanced

    Bank of Ireland completes CRT

    Bank of Ireland has originated a €265m funded and unfunded financial guarantee that referen...

    News    6 December 2019
  • Ramping up

    Standard Chartered boosts corporate issuance

    Standard Chartered has completed a US$135m CLN that references a US$1.5bn portfolio of US and Europe...

    News    21 November 2019
  • US CRT pick-up?

    Volumes to remain restricted to large banks

    The US capital relief trades market is witnessing a long-awaited uptick, with three deals reportedly...

    News Analysis    18 November 2019