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Markit will tomorrow launch a synthetic total return swap index in North America referencing the interest-only component of 30-year fixed-rate, un-securitized residential mortgages.
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Andrew Scherr, a director in fund-linked derivatives at Nomura in New York, left the firm within the last few weeks.
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Patrick Pearson, head of financial markets infrastructure within the European Commission's internal market division in Brussels, told Derivatives Week in an exclusive interview with London reporter Rob McGlinchey that the Commission is collecting data from dealers and end-users with a view to drawing up a benchmark of bid/ask spreads. The aim is to help shave users' hedging costs and determine how expensive it would be on top for users to clear their trades.
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An unidentified reinsurer has bought USD4 million in notional protection against hurricane losses throughout the state of Florida from now through Dec. 31, 2010 via an over-the-counter binary option on the Chicago Mercantile Exchange Hurricane Index.
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As demand for hybrid structures picks up, end users such as insurance companies may look to structured notes with embedded longevity swaps to smooth their liability costs in line with health and population longevity trends.
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Barclays Capital is ending its brief foray into the cash and synthetic life settlements market. Philippe Hatstadt, the managing director heading the effort, has left the firm.
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Philippe Hatstadt, head of Barclays Capital’s longevity derivatives desk in New York, has left the firm.
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The nascent property derivatives market is predicting that returns from U.S. commercial real estate will be positive this year, after the market made a loss of 16% in 2009.
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An over-the-counter product that protects Indian farmers from crop failure when there is insufficient rainfall is attracting increasing interest, according to James Vickery, a research economist at the Federal Reserve Bank of New York.
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The soon-to-be created European Supervisory Authority (Securities and Markets) will be responsible for regulating clearing houses under new plans revealed today.