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New York no longer holds the key to success in Latin America for some European banks.

The debt poll of polls

Board stupid

The Argentine government under the leadership of Cristina Kirchner will have to reach a resolution with the holdout investors from the sovereign’s debt restructuring of 2005 if it is to avoid financing issues, according to analysts.

Does Latin America really need a new multilateral lender? Do Latin countries need more funding, and might not Banco del Sur hinder local capital markets’ growth?

The strategic investment case for emerging European equities remains solid despite the deterioration of global markets caused by liquidity constraints in the banking system, says Martin Majdaniuk, manager of Baring Emerging Europe, which has $850 million under management and has returned 195.6% over the past three years.

The debt poll of polls

The funding of the purchase of Ps37.1 billion in toll road concessions demonstrates the growing maturity of the local-currency market in Mexico.

In a signing ceremony witnessed by UK prime minister Gordon Brown and Chinese premier Wen Jiabao, Standard Chartered Bank agreed on January 18 to provide credit to a microfinance organization in China. It is the first time an international bank has backed such a project in China. The bank is to supply an initial Rmb20 million ($2.76 million) to the China Foundation for Poverty Alleviation (CFPA) to support farmers and small business owners. Microfinance initiatives are seen as key tools in the fight against poverty. Providers of microcredit in poor areas get help in reducing their operating costs; the investment banks benefit from being attached to these PR-friendly projects and often make decent returns on their investments. Standard Chartered is no idle investor: in return for its expertise and reach the bank expects CFPA’s assistance to expand its business in rural China.

Cognotec, an FX trading solutions provider, has formed a partnership with Saxo Bank. As a result, Saxo will stream liquidity to Cognotec’s RealStream Margin trading platform, which Cognotec developed specifically to target what it calls the professional retail market. In a press release, Brian Maccaba, Cognotec’s chief executive, said: "We are delighted to partner with a progressive bank such as Saxo Bank with its depth of FX experience, and particularly their leading profile in the professional retail trading market."

Electronic broker Icap, the world’s biggest interdealer broker, acquired a 15% stake in the Bolsa de Productos de Chile (BPC) commodity exchange in January. This deal makes Icap the first international investor to have an ownership stake in a Chilean exchange, after acquiring the last three shares that belonged to BPC for Ps400 million ($800,000). This deal values the Chilean exchange at $5.6 million.

Last month the panel examined volatility and the reported demise of the dollar. This month, they discuss the merits of prime brokerage, the weakness of algos and how to generate alpha.