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The new venue, which is being tested by both banks, will ultimately be a central place for trading desks to see data for structured credit and other underlying collateral markets, the companies said in a statement Monday. They’re planning to launch within a year and hope the effort will lead to more participation in the market.
Royal Bank of Scotland (RBS) analysts looked at the potential implications of the Bank of America settlement in a report released yesterday. RBS referred to the deal as a “template” for investors and lawyers to follow for settlements with other large private-label RMBS issuers resulting from the mortgage collapse. “Non-agency RMBS investors and corporate investors should look closely at […]
Broadpoint Capital, a subsidiary of Broadpoint Securities Group, hired Chris Lau, Ryan King, Brian Horan, Joseph Lyons, and Mike Regan for Broadpoint DESCAP, its MBS/ABS and rates division. Lau joins as managing director of the Broadpoint DESCAP’s CMBS group. Before Broadpoint, he had a 12-year stint at RBS Greenwich Capital, the last four of which he was a managing […]
The dramatic fall in RMBS activity is clearly demonstrated by the numbers. According to Thomson Reuters, industry totals for the period covering the first quarter to the third quarter of 2008 only reached $176.3 billion compared with $829.5 billion over the same period last year. This is a reflection of the lack of desire on […]
The Royal Bank of Scotland has added 16 new members to its mortgage-backed securities group, 15 of which are from Bear Stearns. Scott Eichel, former senior managing director and head of asset-backed securities trading at Bear, will co-head the asset-backed and mortgage trading group at RBS Greenwich Capital along with David Cannon. Adam Siegel, […]