Posts Tagged ‘Derivatives’
February 26, 2012 | 
Author My interview with ‘Ranting Andy’ Hoffman about Derivatives, the MF Global debacle, silve & gold and current events. Music: “Danse Macabre” by Kevin MacLeod (incompetech.com) Licensed under Creative Commons “Attribution 3.” creativecommons.org creativecommons.org The content in my videos and on the SGTbull07 channel are offered for informational purposes only. Use the details identified in my videos as a starting point for conducting your personal investigation and conduct your own due diligence (DD) Just before making any substantial investing choices. SGTbull07 assumes all data to be truthful and trustworthy however, I can not and do not warrant or guarantee the accuracy of this information. Thank you.
This is brief doc about financial derivatives. I wanted to make it with out employing graphs or being like a company presentation. So I utilized 2.5D style photographs. It’s the first time I have employed this technique so it was a studying encounter. Also it would be intriguing to hear if I have explained derivatives clearly. (Please be certain to check out Jive Dadson’s video on derivatives as well – youtube.com/watch?v=UtwHz7xQZNI)
Video Rating: four / five
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Tags: Andy, Derivatives, DESTROYING, Hoffman, Ranting, WORLD | 
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Article by Michelle Robert
Introduction Derivatives are defined as substances that are designed from other people as defined in chemistry. Similarly, financial derivatives are instruments that allow value exchanges based on pre-existing acts. Generally, the owner of the real stock enters into an agreement with an individual who will be willing to get that stock at an established price tag at some time in the future. The latter is the most common form of arrangement.
The function of monetary derivativesFinancial derivatives have two main roles. These are:* Speculation* Hedging
Financial derivatives are instrumental in the hedging approach since by way of them, parties can exchange danger. Usually, this is attainable via the use of an underlying asset or a stock that truly exists. Nevertheless through financial derivatives, it is possible for the electricity manufacturer to be confident about the process which he will receive for his services from the electricity distributor thus minimising his risk. Conversely, the electricity distributor is now positive of the availability of electricity via the monetary derivative. In other words, each parties have minimised their risk. (Veale, 2000)Derivatives are also instrumental in the process of hedging simply because of the reality that they are really simple in themselves and do not require intricate balance sheet formulations. Derivative items can be set up regardless of the fact that those goods do not truly exist. Through this channel of investment, traders have the chance of hedging themselves against the threat of in fact getting the future stock employing their actual value. (Francis et al, 2003)The second attribute about financial attribute is with regard to their function in speculation. Study shows that significant numbers of traders engage in speculative trading this economic derivatives. Quite a few institutions think that it can be achievable to establish a trend of how a distinct form of security will behave in the future. Investors normally call this type of investment, directional playing. Besides that strategy, speculation can also be done on the nature of a security’s volatility.Some men and women argue that derivatives are generally developed or set by establishing a portfolio that will enable replication. Consequently, this identical group believes that if this portfolio can be replicated in an additional way, then there is actually no want for them. However, such folks are gravely mistaken. This implies that those stock owners or organizations would have to spend too considerably capital on such a venture. (Jackson, Brewer and Moses, 2000)The second purpose that derivatives provide to the stock owner or to the purchaser is that the they are a formula or technique that enables them to suggest achievable investments in the future. In other words, if the organization was to try and do this on their own with out an investor, they would most most likely get it wrong. The third aspect is that investors in economic derivative need to have not be concerned about changes in costs of their present stock. Derivatives go a lengthy way in minimising the rate of volatility in any offered market. A large percentage of the firms used had been fond of making use of monetary derivatives to minimise their foreign exchange risks. It was discovered that this specific function was lowered by eleven percent by means of this strategy. (Briys et al, 1998)The latter causes are some of the most frequent motivations for choosing financial derivatives. Nevertheless, other firms may select to utilise monetary derivatives for other rewards too. For instance, monetary derivatives allow respective businesses to minimize their tax liability.While this nature can be deemed as an benefit, in particular instances it can become a enormous loss. For example, it presents a huge notional value therefore causing a scenario where the respective investor can not be in a position to compensate for looses. 1 of the leading investors in the planet Buffet Warren asserted that financial derivatives are so harmful tat they can even result in economic crises. He explained this assertion by stating the truth that a lot of folks turn to the economic derivatives marketplace to guide them on future investments instead of looking at the actual marketplace. This may eventually lead to market place distortions and may possibly be propagated to other parties engaging in investments, ultimately, a country’s economic scenario may possibly be severely impeded. The end result of this is that lack of market place understanding and little experience might cause poor monetary choices.
How financial danger managers can use futures and options to hedge monetary risks
Futures may be defined as types of economic derivatives which demand a single party to obtain a given security at a specified date is the future. Choices on the other hand refer to economic derivatives that give holders the option of acquiring a fixed amount of security or stock at a particular value in the course of a specified date in the future. Moreover, options may possibly allow investors to sell a recognized quantity of stock at a specified value at a particular time in the future. Normally, choices call for a pre-existing amount of stock typically known as the choice premium. The following summarises the problemsExpected stock to be received after one particular year- million/16 million poundsCurrent exchange rate-.8 pounds Rate of depreciation in dollar value-ten%Quantity of money lost due to depreciation of the dollar-1.6 million poundsAmount of cash received with no future’s alternative-14.4 million poundsForward rate-$ .78Amount received with future’s option-15.6 million poundsAs it can be seen from the figures above, this UK exporter will be in a position to protect himself from the losses that may possibly arise out of a fall in the exchange rate.In this case, the exporter took up a economic position in the form of a futures contract. The threat under consideration in this scenario is the depreciation of the dollar. The exposure under consideration is the twenty million dollars expected following a period of twelve months. This threat has been hedged well through the help of the futures contract. No income will be altering hands amongst the exporter and the investor at the beginning of the futures contract.
The following is a summary of what Ann stands to loose if she had used a another technique for buying stock instead of possibilities
Initial investment -1000 poundsNo. Of shares to be bought-100Amount to be borrowed in order to manage 100 shares-4000 poundsAs it can be observed above, Ann would have to borrow the rest of the amount if she operated with out the stock choices and would eventually have to spend an interest on the loan. This also indicates that she would have to borrow and nonetheless utilise her personal income to make this investment. There is also one more severe risk with making use of the direct method (without having stock alternatives), Ann would have to let go off her five thousand pound investment in addition to the entire interest of the value of the stock that she invested if the stock price went all the way to zero. In this regard, all that Ann will stand to loose in case the stock cost falls to a value of zero is a single thousand pounds.
Conclusion
The essay has examined the role of economic derivatives. Its major purpose is to minimise danger while at the exact same leverage resources i.e. it makes it possible for investors to control securities or stock with minimal resources. Author is connected with ResearchPapers247.Com which is a international Analysis Papers and Term Papers Writing Organization. If you would like support in Investigation Papers and Term Paper Assist you can go to ResearchPapers247.Com>
ReferenceVeale, S. (2000): Stocks, Bonds, Possibilities and Futures Prentice Hall Press Thomas, Liaw and Moy, R. (2000): The Irwin Guide to Bonds, Stocks, Futures, and Choices McGraw-Hill Neftci, S. (2000): Introduction to the Mathematics of Economic Derivatives Academic PressJackson, Brewer and Moser (2000): The Value of Making use of Interest Rate Derivatives to Manage Threat at U.S. Banking Organizations Economic PerspectivesBriys, E. et al (1998): Derivatives, Possibilities, Exotic and Futures John Wiley and SonsFrancis, J. et al (2003): The Handbook of Equity Derivatives Irwin Publishers.Gardner, D. (2001): Introduction to Swaps Pitman Publishing.Robert, A. Jarrow, B.and Stuart, T. (2004): Derivative Securities, Ohio, South-Western PublishersMcLauglin, R. (1999): More than-the-Counter Derivative Products McGraw-HillMillman, G. (2002): How Rebel Currency Traders Overthrew the Central Banks Cost-free PressPeck, E. (2001): Selected Writings on Futures Markets Chicago Board of Trade PublishersPilipovic, D. (1998): Valuing and Managing Energy Derivatives McGraw-HillRitchken, P. (2003): Derivative Markets: Method, Theory and Applications, Harper CollinsScholes, M. (1998): Derivatives in a Dynamic Economic The American Economic Critique 88, 3, 350-70
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The Fed is supporting Bank Of America and its trillion in derivatives bets. If BOA crashes, the American government/taxpayers will be left to clean up the mess. The Young Turks host Cenk Uygur explains from the Occupy Wall Street protests in New York City. Watch a lot more Occupy coverage right here: current.com www.theyoungturks.com www.youtube.com The Largest On-line New Show in the Planet. Google+: www.gplus.to Facebook: www.facebook.com Twitter: twitter.com Support TYT for Cost-free: bit.ly
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Write-up by John Reizner
It appears that with each significant market swoon, commentators come out of the woodwork on economic television and speak of systemic risk to the economic markets, typically from hedge fund or complex derivative blow ups, or events from China. I think there is constantly the risk, nonetheless tiny, that such an event could happen and cause a meltdown, and we would be foolhardy to say this would never take place.
But truly, is there such a catalyst now for a catastrophic market place occasion? I believe the catalyst could be either triggered by one particular or much more of four aspects: a hedge fund (s) seizing up, a derivatives transaction gone seriously awry, the level of our public and private debt, or events from Asia, particularly China.
The initial threat element to the soundness of the monetary markets is excessive debt. Sir John Templeton, possibly the greatest global investor of our time, has said that never ever just before has our economic technique been so mired in both public and private debt. Further he has stated that never ever just before has any civilization in history escaped from such levels of debt with out dire consequences for its citizens and the society. We will be faced with a lower standard of living for all our folks if we do not soon address the spending budget deficit and reform the level of future Medicare and Social Security obligations.
When Sir John was alive I picture he was vividly impressed with the catastrophic stock industry crash of 1929 and the deflationary unwinding that occurred for far more than a decade afterward. He has said that an additional crash will definitely happen, but that we can’t know what it will strike. Chairman Bernanke, a student of the Excellent Depression, that era’s moniker, has been reported to think that the Fed could drop funds from helicopters in order to stem off a deflationary spiral such as what occurred throughout the collapse of the 1930′s. (which would be a rather exciting spectacle). A deflationary collapse such as happened in the thirties is possibly the most devastating economic blow that can occur to a society’s economic method.
The second threat element is the behavior of hedge funds in the market. There are now over 8,000 hedge funds managing hundreds of billions of dollars. Hedge funds give a valuable service to the industry by offering liquidity to the marketplace so the rest of us can reliably execute our trades. But a lot of funds use a fantastic deal of leverage in an try to accomplish greater returns. The hedge fund Long Term Capital Management, begun by John Meriwether in 1994, a former Salomon Brothers bond trader, accomplished great returns in its early years, but ran into difficulty in 1998 when the Russian government defaulted on its debt. Returns afterward went negative as a outcome of the consequences of the default. As the firm was utilizing a high level of leverage, their outcomes were severely impacted. A multi billion dollar bailout of the fund had to be organized to avoid a contagion and collapse in the monetary markets.
The third risk element to the markets is derivatives. Derivatives are investment instruments based on underlying assets such as stocks, bonds, commodities, indexes, interest rates, and so on. The derivative can include put and call alternatives, commodity futures, or interest rate swaps, etc. There are opportunities in these instruments to reap huge reward or fantastic loss. There are both publicly traded derivatives and ones traded by private agreement. Warren Buffett was quoted from his March 2003 annual letter about the danger of a miscalculation in complicated derivatives transactions. He stated, “we view them as time bombs, each for the parties that deal in them and the financial system.” This statement is taken from http://www.forbes.com/property_asia/2003/05/09/cx_aw_0509derivatives.html with regards to their opinion of these varied instruments. Both Alan Greenspan and Warren Buffet are concerned that fewer economic institutions are handling derivative transactions, and Buffett has called them “weapons of mass destruction.” Id.
The fourth risk to the economic markets is events from China. The February 2007 Shanghai industry swoon shook the confidence of investors worldwide. We do not yet know how this will play out. The record of the last twenty seven years is good. The industry has recovered ground lost from sudden industry downturns in 1987, 1989, and 1998. The best guidance if you want to hunker down is diversification of assets, and to maintain sufficient assets to cover your debt should the unthinkable take place.
This write-up contains the opinions and suggestions of its author and is designed to offer beneficial info to the reader on the subject matter covered. The author may or might not have present positions in the investments mentioned in this function, and the author might from time to time make investments in a manner that is not described here. Past efficiency is no guarantee or prediction of future outcomes and any investments created, based on the opinions and concepts contained in this operate, could or may possibly not be effective. The methods contained herein may not be suitable for each scenario, and the author is not engaged in rendering legal, accounting, investment advisory or other professional services.
About the Author
My existing e-book, AWay to Wealth – the Art of Investing in Widespread Stocks, is available at my internet site, http://www.ReiznersWay.com.
Visit : bit.ly for your 14 day cost-free trial at Thinkwell! Videos, Quizzes, Tests and A lot more! The Product Rule for Derivatives – A couple of simple examples. For much more totally free math videos, check out PatrickJMT.com
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Post by Dalinda Maeryn
Karachi Stock Exchange, most traded neighborhood bourse of Pakistan, at present offers equity future items as sole leveraging and hedging tool. In spite of being only leveraged item, the activity in stock and index futures are extremely low. To understand the reasons for low activity and investors’ interest in this market place, we have attempted to discuss with marketplace participants and know the reason for low investor interest in this market place.
To start, Pakistan equity derivatives items were launched on the Karachi Stock Exchange in 2001. Initially, one month deliverable single stock futures had been introduced. Nine years later this industry is nonetheless deemed to be underdeveloped when compared to India. Exchange traded economic derivatives had been introduced in India on the National Stock Exchange and the Bombay Stock Exchange in June 2000. Index futures contracts, based on S&P CNX Nifty Index (Nifty) and BSE Sensitive Index (Sensex), had been initially launched. Since then, the turnover of derivative contracts has risen immensely on the India National Stock Exchange.
In most created or developing markets, investors prefer to take positions and derivatives instruments are typically preferred over underlying assets in the spot industry. In Pakistan, this is not the case. In the outgoing calendar year (ie January-December 2010) futures marketplace constituted 3% and 9% in terms of volume and value of the spot marketplace. Nonetheless, throughout the late 2004 and early 2005, the deliverable future contract were choosing up in volume terms. In the course of that period, futures volumes constituted 30 to 40% of the spot market place volumes. But unfortunately due to weak market place infrastructure and danger management measures of that time, the market place could not sustain the outgoing leverage position in the industry, therefore leading to the 2005 March crisis. Following the crisis, a number of threat management measures have been taken to minimize systemic threat.
The National Clearing Company of Pakistan has began releasing information on the futures industry. Accordingly in the calendar year 2010 on an average 174,000 equity derivatives contracts had been traded per month. Institutions have not been heavy users of exchange traded derivatives. In the said period, banks, NBFCs and businesses contributed .7%, 1.6% and 3.2% of the future volumes respectively. People and other investors contributed 94% of the total volumes in exchange traded equity derivatives.
Derivatives users in Pakistan
In Pakistan, many banks, DFIs, mutual funds, non-banking economic institutions trade in the derivatives market place. Even so, the use varies with the nature of the organisation. Mutual funds manage funds of the general public and they perform below the supervision of their respective trustees. Mutual funds, mainly trade in equity derivatives to reap arbitrage opportunities they initial take a long position in the spot industry and then sell in the derivatives marketplace to lock in confirmed earnings. Mutual funds cannot take positions in future trade to produce leverage. Islamic mutual funds are not allowed to purchase or sell in the existing equity derivatives industry. Nevertheless, the Karachi Stock Exchange is operating on the launch of Islamic derivatives.
As far as banks/DFIs are concerned, according to Prudential Regulations for corporate/commercial banking (1.B): “Banks/DFIs may possibly take exposure in future contracts to the extent of 10% of their equity on an aggregate basis. In this connection, the ten% exposure limit for future contracts will contain each, positions taken in future getting and selling.” Despite this regulatory assistance, banks/DFIs participation is extremely low.
In terms of the growth of the derivatives industry, and the range of derivative users, the Pakistan equity derivatives industry has shown subdued efficiency as compared to India. In nearby bourses, retail investors remain the key users followed by private sector institutions and big corporations. State-owned institutions have participated minimally. The assortment of derivative instruments offered for trading is expanding slowly.
There stay main locations of concern for Pakistan exchange traded equity derivatives. Large gaps exist in the range of derivative products that are traded actively. In equity derivatives, only single stock deliverable futures are traded and account for virtually 100% of the total volume in exchange traded derivatives. Trading in Money Settled Futures and Stock Index Futures is practically absent. A lack of industry liquidity might be responsible for inadequate trading in these instruments.
Why do institutions not participate to a greater extent in the derivatives markets?
In Pakistan, some institutions such as banks and mutual funds are only allowed to use derivatives to hedge their existing positions in the spot market place, or to rebalance their existing portfolios. Furthermore, in case of most institutions, internal policies prohibit them from trading in equity derivatives.
The major cause is the lack of information and expertise followed by tight risk management measures mandated by the Securities and Exchange Commission of Pakistan. Also, money margin requirements and Unique Identification Quantity (UIN)-based margin collection are also important concerns for institutions. Previously, the executing broker utilised to deposit margins with the exchange on behalf of his customers.
The broker utilized to act as a collecting agent among the exchange and his client. But in some instances, the broker, to facilitate his critical customers, used to meet regulatory margin needs with out collecting it from the end-user, thus initiating unnecessary risk in the industry.
Since the increased regulatory vigilance and introduction of UIN based margins along with the launch of Institutional Delivery Program (IDS), margins are largely collected directly from the finish user. Consequently, now, even exactly where institutional internal policies allow them to trade in exchange traded derivatives, institutions have reservations in depositing margins with the exchange.
Policy initiatives
Pakistan equity derivatives markets require initiatives by the regulator and the exchange to generate investor awareness about existing merchandise and about how they can use these merchandise to hedge their existing portfolios and to reap advantages from existing marketplace inefficiencies. The exchange ought to launch new programmes to inform and educate brokers, dealers, traders, and market place personnel. In addition, institutions will need to devote more resources to create the business processes and technologies essential for derivatives trading. Moreover, fund managers ought to be motivated to participate much more actively to take benefit of existing industry inefficiencies. The front and back office salary and appraisal must directly be linked to the efficiency and creativity of trading officers. Lack of suitable return reward and appraisal systems usually decrease creativity. Institutions really should attempt to build competent staff at all levels.
Furthermore, market development reforms will aid these markets grow quicker. For example, the development of the shares lending and borrowing marketplace and presence of industry-makers will support boost the liquidity in spot and future markets.
Moreover, state owned institutions like Employee Old Age Benefit Fund and National Investment Trust should be encouraged to participate in the derivatives industry. This will assist boost liquidity.
A managerial structure should be developed in each organisation, which clearly defines roles, responsibilities, and accountability of leading management, front desk and back desk. Each department ought to be given adequate authority. Back workplace staff must be trained and experienced enough to facilitate front desk operations. Also, nearby investor education need to also be focused upon. For this purpose, media coverage, seminars and publications must be created on standard concepts of equity and derivative items ethical standards of transacting in markets on the rights of investors and brokers.
The SECP, in association with the Karachi Stock Exchange board and members, ought to style some mandatory study guidelines for traders, fund managers, settlement officers and other associated parties. This will facilitate blending of professionalism into the capital market place and will eventually increase market depth.
Nevertheless, some efforts have already made in this regard. The SECP, exchanges of Pakistan and other renowned institutions like the CFA Association of Pakistan and Mutual Funds Association of Pakistan have established the Institute of Capital Markets in 2009. ICM has been established as a platform to create human capital, which might be capable to meet the emerging professional expertise wants of capital markets and create standards amongst industry specialists. The institute envisions providing different licensing examinations top to certifications for various segments of the capital markets. However, up-till now, by large no enthusiasm is seen among the audience as the pace of registering is very slow.
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Finding the slope of a tangent line to a curve (the derivative). Introduction to Calculus.
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Credit default swaps? Theyre complex — and scary! The receipt you get when you pre-order your Thanksgiving turkey? Not so a lot. But they have a lot in typical: Theyre both derivatives. Senior Editor Paddy Hirsch explains.
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Derivatives 101 Seminar Accessible for Economic Journalists
New York, NY (Vocus) February 6, 2010
Journalists know that in today’s shrinking and quickly-paced media environment, having an edge makes all the difference. CFA Institute is hosting an educational seminar for journalists, “Derivatives 101,” to aid make confident reporters are prepared the next time their editor assigns an write-up on the derivatives marketplace. Attendees at this educational seminar will learn how derivatives and the derivatives marketplace work. Come discover from the professionals.
This event is cost-free to credentialed journalists.
Speaker: Bud Haslett, CFA, head of danger management, derivatives, and option investments for CFA Institute
Date: February 22, 2010
Time: 6:00 pm – 8:00 pm (working dinner provided)
Location
CFA Institute
477 Madison Avenue (between 51st and 52nd), 21st Floor
New York, NY
RSVP:
Please RSVP by February 19, 2010 to kathy.valentine@cfainstitute.org
Agenda:
I. What is a derivative?
II. Alterations in the derivatives marketplace
III. Forwards, futures, alternatives, and swaps
IV. Searching ahead, the derivatives markets’ future
About CFA Institute
CFA Institute is the global association for investment specialists. It administers the CFA and CIPM curriculum and exam programs worldwide publishes analysis conducts skilled development programs and sets voluntary, ethics-based expert and efficiency-reporting standards for the investment market. CFA Institute has practically 100,000 members, who incorporate the world’s 86,400 CFA charterholders, in 133 countries and territories, as well as 136 affiliated specialist societies in 57 countries and territories.
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ÂBICs four DerivativesÂ, Newtonian or Einsteinian Revolution for Derivatives Analysis and Markets?
New York, NY (PRWEB) December 7, 2004
A new concept in derivatives pricing, hedging and trading referred to as BICs (Basis Instruments Contracts) appears to be the most important theoretical and practical contribution to derivatives analysis given that the Black Scholes analysis or even considering that economic mathematics pioneer Louis Bachelier.
A assessment on the http://www.4bics.org website reads: ÂI wanted to say this is Economics Nobel prize and/or Mathematics Fields Medal material, but that would be presenting this at a discount RM, New York.
In a release of two book sets titled BICs four Derivatives Vol. I: Theory & BICs four Derivatives Vol. II: Applications, an author named Obi-Wan Yoda with a bio in the continuation of the Star Wars sequel makes the case.
The BICs analysis provides a compellingly valuable and exhaustive redefinition of derivatives and trivializes or sidelines existing approaches for derivatives pricing and hedging, which includes PDE/PIDE strategies, binomial/trinomial trees or Monte-Carlo.
The BICs analysis also provides a new method for derivatives hedging. In markets were BICs are traded, static hedges of any derivatives contract may possibly be obtained. When BICs in a BIC basis are not obtainable, the BICs analysis still provides compelling cross-hedging methods in a measurably a lot more efficient manner than current ÂGreeks based hedging methods.
Establishing BICs markets would represent for established derivatives exchanges or trading venues, a significant growth chance, as they would represent the ultimate solution for end-users danger management needs.
The advent of BICs would substantially decrease the cost of derivatives hedges, consequently substantially improving the competitiveness of companies that use them. For accounting purposes, it would also bring a lot more transparency to the manner in which corporate assets and liabilities, in specific derivatives, are marked to marketplace. Far more particularly, compliance with FAS 133,138 and its implementation directives will turn out to be a lot more transparent.
In an environment where derivatives miscounting scandals often shake the extremely existence of some of the worldÂs largest businesses, this is indeed a compelling development.
More info on BICs, such as excerpts of the BICs books, summaries, table of contents and ordering details can be obtained at: http://www.4bics.org.
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Posted in Derivatives | Tags: Analysis, Derivatives, Derivatives, Einsteinian, Markets, Newtonian, Revolution, BICs | 3 Comments »
Morgan Stanley, Bank of America and Deutsche Bank Are Recognized at Derivatives Week’s 2005 DEAL Awards
New York (PRWEB) November 22, 2005
Derivatives Week’s 2005 DEAL Awards were announced last week recognizing the firms and experts who stood out in the over-the-counter derivatives marketplace. Following extensive interviews with buy-and sell-side institutions and plus submissions from the business, the editors of Derivatives Week determined nominees and winners in every category on the basis of factors including innovation and excellence of performance. The winners in 10 categories were unveiled and Thomas Jasper, ceo of Primus Guaranty, was recognized with a Lifetime Achievement Award.
The best firms were as follows:
Morgan Stanley, Credit Derivatives House of the Year – U.S.
Bank of America, Equity Derivatives Residence of the Year – U.S.
Deutsche Bank, Credit Derivatives House of the Year — Europe
SG Corporate & Investment Banking, Equity Derivatives House of the Year — Europe
Deutsche Bank, Credit Derivatives Residence of the Year – Asia
UBS, Equity Derivatives Residence of the Year — Asia
Barclay’s Capital, Fund-Linked Residence of the Year
Allen and Overy, Derivatives Law Firm of the Year
Cheyne Capital Management, Finish User of the Year
Deutsche Bank, Global Derivatives Home of the Year
The nominees were as follows:
Credit Derivatives House of the Year – U.S.
Barclays Capital
Deutsche Bank
Goldman Sachs
JPMorgan
Equity Derivatives Residence of the Year – U.S.
Citigroup
Goldman Sachs
Lehman Brothers
Merrill Lynch
Credit Derivatives House of the Year — Europe
Citigroup
JPMorgan
Morgan Stanley
UBS
Equity Derivatives Home of the Year — Europe
Barclays Capital
Deutsche Bank
JPMorgan
Morgan Stanley
Credit Derivatives Residence of the Year – Asia
BNP Paribas
Goldman Sachs
JPMorgan
Morgan Stanley
Equity Derivatives Home of the Year — Asia
Citigroup
Credit Swiss Initial Boston
Merrill Lynch
SG Corporate and Investment Banking
Fund-Linked Residence of the Year
BNP Paribas
Deutsche Bank
Goldman Sachs
SG Corporate and Investment Banking
Derivatives Law Firm of the Year
Cleary Gottlieb Steen and Hamilton
Clifford Opportunity
Davis Polk and Wardwell
Linklaters
Finish User of the Year
AXA Investment Managers
BlueMountain Capital Management
Caim Capital
Fortis Investment Management
Global Derivatives House of the Year
Citigroup
Goldman Sachs
JPMorgan
Morgan Stanley
About Derivatives Week
Derivatives Week is dedicated to breaking news in the over-the-counter derivatives market place worldwide. Every week, its reporters in New York, London and Hong Kong dig up need to-read data on innovations in the industry. DW reveals who’s utilizing derivatives, who’s preparing to do so and why. Coverage consists of development of new derivative instruments, regulatory changes, firm reorganizations, technologies, market trends and risk management.
For much more details please visit http://www.derivativesweek.com/DW/2005awards/
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Posted in Derivatives | Tags: 2005, America, Awards, Bank, DEAL, Derivatives, Deutsche, Morgan, Recognized, Stanley, Weeks | 2 Comments »