Latest articles from Michael Marray

German retail looks away from exchanges

German retail moves away from exchange trading

January 2, 2013

Since the global financial crisis, regulators have been pushing for structured products to be traded on exchanges for safety reasons. So why, in the German retail market, is the opposite happening, with more trades being done over the counter?

Rethinking the US debt markets

US opens up to European risk

November 1, 2012

Yankee bond issuance by European names has been setting all-time records in 2012, and in addition to well-known investment-grade names, the market has been showing a tremendous appetite for high-yield offerings.

FX Supp

FX fund platforms look to pull in pension allocations

October 1, 2012

Pension fund uptake of managed currency funds has been relatively slow, but bank-owned platforms are making access easier for investors looking to allocate foreign exchange exposure to their portfolios.

FX Supp

Central banks home in on FX trade execution

October 1, 2012

Best execution for foreign exchange trades, and detailed post-trade analysis, are currently high up on the agenda for central banks and other large participants in the global FX market.

Will aircraft pfandbriefe take international flight?

February 1, 2012

The creation of a new class of pfandbrief backed by aircraft loan collateral is set to take off in 2012, and given the reliability of this type of covered bond, this could arouse particular interest from outside its domestic German market.

Standard products ETF teaser

Regulatory focus moves towards ETFs

November 4, 2011

As regulators have scrutinised structured products over the past few years, exchange-traded funds have managed to stay under the radar. However, with the G-20’s Financial Stability Board raising concerns about ETFs, this situation looks set to change.

Singapore exchange

Structured products revival in Asia

October 20, 2011

The fight for market share in the Asian High Net Worth Individual (HNWI) segment is fierce, as private banks and wealth management arms of major banks from Europe and the US position themselves for future growth.

Sun Art IPO

Is Hong Kong and China's ECM dominance here to stay?

October 3, 2011

Hong Kong has been the world's biggest initial public offering market for the past two years. Is this a sign of a structural shift in the equity markets, in which companies' capital-raising strategy must include a Hong Kong/China element? And just how much are world leaders London and New York losing out to their Asian rivals?

Stephane Mattatia

Investors warm to bankers' new volatility products

June 30, 2011

Banks are using volatility products with transparent structures and pay-offs that are easy to understand to attract a growing number of institutional and individual investors.

David Rouch

Structured products move one step closer to harmonisation

June 30, 2011

In theory, the advent of the Ucits IV Directive should lead to standardised documentation for structured products across the EU. In practice, structurers must still work with diverging national regulatory frameworks.

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