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.

  • Tactical opportunity?

    Downturn could spur CRT secondary activity

    Capital relief trade secondary market activity remains minimal. However, a credit downturn could spu...

    News Analysis    4 November 2019
  • Tough approach continues

    RTS leaves disclosure challenges unresolved

    The European Commission’s long-awaited regulatory technical standards on securitisation di...

    News Analysis    1 November 2019
  • SRT report pending

    EBA to propose harmonised excess spread treatment

    The EBA is set to propose a harmonised regulatory treatment for excess spread in significant risk tr...

    News Analysis    1 November 2019
  • SCI Capital Relief Trades Awards 2019

    Law Firm of the Year: Clifford Chance

    Clifford Chance has been involved in the capital relief trades market from the beginning and the pas...

    News    1 November 2019
  • GARC deal expected

    Sector developments and company hires

    EMEA Florent Trouiller has joined Norton Rose Fulbright as a partner in its Luxembourg office. Tr...

    Market moves    31 October 2019
  • Risk transfer round-up - 31 October

    CRT sector developments and deal news

    Santander is rumoured to be readying two synthetic securitisations of consumer loans. The issuer has...

    News    31 October 2019
  • SCI Capital Relief Trades Awards 2019

    Investor of the Year: European Investment Fund

    The European Investment Fund (EIF) provides an unparalleled level of support to the capital relief t...

    News    31 October 2019
  • Anti-NSDA provisions welcomed

    Sector developments and company hires

    Anti-NSDA provisions welcomed The inclusion of anti-net short debt activism (NSDA) provisions in of...

    Market moves    30 October 2019
  • SCI Capital Relief Trades Awards 2019

    Innovation of the Year: FCT Jupiter 2019

    Societe Generale’s US$3.4bn FCT Jupiter 2019 transaction has won SCI’s Innovatio...

    News    30 October 2019
  • Abacus case settled

    Sector developments and company hires

    Abacus case settled Judge Jennifer Frisch of the Minnesota District Court has terminated the Abacus...

    Market moves    29 October 2019
  • SCI Capital Relief Trades Awards 2019

    Impact Deal of the Year: Room2Run

    As the first-ever synthetic impact securitisation with a multilateral development bank (MDB), Room2R...

    News    29 October 2019
  • SCI Capital Relief Trades Awards 2019

    Transaction of the Year: Syon Securities 2019

    Lloyds Banking Group’s synthetic UK RMBS Syon Securities 2019 was motivated by prudent ris...

    News    28 October 2019
  • SCI Start the Week - 28 October

    A review of securitisation activity over the past seven days

    Transaction of the week Fannie Mae has priced its first credit risk transfer transaction referencin...

    News    28 October 2019
  • SCI Capital Relief Trades Awards 2019

    Arranger of the Year: Credit Suisse

    Credit Suisse is SCI’s Arranger of the Year in recognition of the variety of structures it...

    News    25 October 2019
  • Multifamily CRT debuts

    DUS, MCIRT programmes complemented

    Fannie Mae has priced its first credit risk transfer transaction referencing a pool of multifamily l...

    News    25 October 2019
  • SCI Capital Relief Trades Awards 2019

    Issuer of the Year: Santander

    Santander was one of the banks that actively participated in efforts to extend the STS designation t...

    News    24 October 2019
  • CRE CRT inked

    Innovative financial guarantee debuts

    Raiffeisen has completed an approximately €95m unfunded financial guarantee that references...

    News    24 October 2019
  • Correlation evolution

    Tranche trading continues to gain traction

    Bespoke and index tranche trading volumes have been increasing for the last few years, supported by...

    News Analysis    23 October 2019
  • Risk transfer round-up - 18 October

    CRT sector developments and deal news

    Nordea is rumoured to be prepping a corporate capital relief trade for this year. The Nordic lender&...

    News    18 October 2019
  • Best in class

    SCI Capital Relief Trades Awards winners revealed

    The winners of SCI’s inaugural Capital Relief Trades Awards were revealed at a ceremony la...

    News    18 October 2019
  • Positive impact

    Capital allocation factor debuts

    Societe Generale has completed an innovative risk transfer transaction that, for the first time, inc...

    News    16 October 2019