Charles Piggott analyses the results of The Banker's survey of up and coming electronic trading systems for bonds.

Can JP Morgan Chase overcome a culture clash to emerge at the top of the banking pile?

It is not a matter of how, but of when. A major cross-border bank merger in Europe involving core countries is imminent. Investment banks are busy advising their clients on possible deals, bank chief executives are flying back and forth having talks with their counterparts and lawyers are looking at the legal implications.

With multi-billion dollar acquisitions to finance, banks need inexpensive ways to replenish their capital. Tax and cost-effective, preferred shares are the answer to their prayers, but convincing the regulators to count them as Tier One can be challenging. Jules Stewart reports on the twists and turns to keep the issuers and the authorities happy.

European and American banks will have to cut costs, deepen customer relationships and search for new opportunities in order to weather the US slowdown.

Melvyn Westlake talks to the protagonists behind Fitch’s challenge to the two giant US rating agencies.

The aftermath of the recent merger breakdown between Dresdner and Deutsche banks and other, successful acquisitions and get-togethers, will drastically change Europe’s banking landscape.

The success of Metsä-Serla's euro-denominated Eurobond issue reveals a healthy appetite for credit products and a willingness to look to the emerging euro market.