Secondary markets

The post-issuance trading or buying and selling of instruments, including, but not exclusively, asset-backed securities or ABS; commercial or residential mortgage-backed securities or MBS or CMBS or RMBS; collateralised debt obligations or CDOs; and collateralised loan obligations or CLOs takes place in the secondary market. Prices established in the secondary market are seen as an efficient means of deriving the value of similar products for valuation purposes.

  • US CMBS supply surges

    The US CMBS market came to life last week, as a high volume of bid-list paper made the rounds. Activ...

    SCIWire    19 July 2016
  • CLO relative value highlighted

    Respondents to JPMorgan's latest quarterly client survey view CLO relative value as more compelling...

    News Round-up    19 July 2016
  • Sales and trading head tapped

    Mizuho Americas has brought in Thomas Hartnett as senior md and head of fixed income sales and tradi...

    Job Swaps    19 July 2016
  • Euro CLOs sporadic

    Activity in the European CLO secondary market is sporadic in terms of volume and types of participan...

    SCIWire    19 July 2016
  • CDQ development

    Originator consolidation to drive issuance up?

    The €1.47bn Towers CQ transaction, which closed last month, is the first Italian salary as...

    News Analysis    18 July 2016
  • Weighing it up

    European ABS offerings, future in the balance

    The European secondary ABS value proposition is changing. Increasingly, credit is not investors' pri...

    News Analysis    18 July 2016
  • SCI Start the Week - 18 July

    A look at the major activity in structured finance over the past seven days

    Pipeline Last week's pipeline additions included a decent mix of MBS names. In the end there were s...

    News    18 July 2016
  • US CLOs rejuvenated

    The US CLO secondary market is continuing to exhibit strong activity after a positive start to this...

    SCIWire    14 July 2016
  • Step-up tranches refinanced

    Four US CLOs - ACAS CLO 2013-2, Carlyle Global Market Strategies CLO 2014-3 and Neuberger...

    News    14 July 2016
  • Euro secondary stays light

    Flows in the European securitisation secondary market continue to be light though sentiment remains...

    SCIWire    14 July 2016
  • Markit merger completed

    IHS and Markit have completed their merger to form IHS Markit (SCI passim). The firm begins trading...

    Job Swaps    13 July 2016
  • US CLOs confident

    The US CLO secondary market is exhibiting a more confident tone almost three weeks on from the desta...

    SCIWire    12 July 2016
  • Reputation management

    Side pocket pros and cons debated

    Side pockets are a portfolio management tool that can benefit both investors and managers alike. But...

    News Analysis    12 July 2016
  • Euro secondary strengthens

    Supported by the wider market rally the European securitisation secondary market is strengthening an...

    SCIWire    12 July 2016
  • SCI Start the Week - 11 July

    A look at the major activity in structured finance over the past seven days

    Pipeline Pipeline activity picked up again last week, with ABS leading the charge. There were nin...

    News    11 July 2016
  • Conformance period extended

    The US Fed has extended the conformance period for the Volcker Rule to 21 July 2017. While the exten...

    News Round-up    11 July 2016
  • Private label CMBS volume drops

    Private label US CMBS issuance has dropped to its lowest level since early 2012, according to Kroll...

    News Round-up    7 July 2016
  • Leverage ratio response outlined

    Five organisations have issued a joint response to proposed revisions to the Basel 3 levera...

    News Round-up    7 July 2016
  • Manager options outlined

    If Brexit concludes with the UK outside of the EU passporting regime, UK entities may be limited in...

    News    6 July 2016
  • CLO equity distributions dropping

    Equity distributions for US CLOs continued their decline in 1H16, a trend that started in 2013 for 1...

    News Round-up    6 July 2016
  • Risk retention expectations surveyed

    Just over half (51%) of the respondents polled in Morgan Stanley's latest US CRE survey believe the...

    News    6 July 2016