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Read Euromoney's full analysis and background of the practice and what it means for today's markets.

Fixed-income has been the driver in the exchange-traded fund marketplace for the month of August. According to State Street Global Advisors’ most recent U.S. ETF Snapshot, fixed-income ETFs were up 4% in August, bringing total assets in the category to $48.59 billion. "Our advisors and institutional clients have been looking for the low-correlated exposure of [fixed-income]…we’ve seen a lot of new flows into the category and there have been a lot of fixed-income launches [this year]," said Anthony Rochte, senior managing director at SSGA. Rochte added that many investors have been using Treasury Inflation Protected Securities ETFs as inflation plays amid growing inflation concern in the U.S. and internationally.

"Why did I tell you that? Please, please forget that I mentioned it," a chief wailed.

The European retail structured products market could be more than twice the size previously thought, according to Greenwich Associates.

The Chicago Mercantile Exchange has pushed through a contentious $7.7 billion acquisition of the New York Mercantile Exchange following months of negotiations. The CME was already the largest derivatives exchange in the world but the combined group, with pro forma 2007 annual revenue of $2.7 billion and average trading volume of approximately 14.2 million contracts a day in the first two quarters of 2008, will now control some 98% of trading in US futures and exchange-traded options. "As a united company we are well positioned for a new phase of growth, innovation and product development that will benefit our customers, shareholders and market users around the world," commented CME Group executive chairman Terry Duffy.

Some 190 IPOs seeking to raise $33.1 billion in capital have been postponed or withdrawn across the world so far this year, according to Dealogic.

In 2005 Euromoney interviewed CEO of Lehman Brothers Richard Fuld on the future strategy of the Investment Bank after winning Best Investment Bank and Best Credit Derivatives House for the 2005 Awards for Excellence. Was it the strategy in 2005 that has led to its downfall today or did Lehman become impudent...

Third rights issue in a row for UK bank is shunned.

UPDATE: CME and Thomson Reuters confirm closure of FXMarketSpace

By Helen Avery

Standard Chartered is not resting on its laurels.

Consistency, rather than innovation, could be the differentiator this year again.