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The way in which debt assets are marked to market has intensified the liquidity crunch. Far more should therefore be done to rethink the process.

They were extendible

Credit Suisse launched its Merlin platform for FX options in early December. The system, which the bank has used internally since 2006, allows clients to structure, price and execute complex, multi-legged exotic option transactions online. Credit Suisse says Merlin is completely automated and works on a request-for-quote basis. It adds that the platform has significantly sped up the pricing of complex structures – on average, it takes just 15 seconds to obtain a quote – and that it is now able to process far more trades.

In order to facilitate contact-building, journalists are frequently invited to lunch at banks’ in-house dining facilities because of time constraints. Such invitations are often disappointing on the culinary front. However, a few banks’ invitations to dine in-house are met with eagerness rather than a sinking heart.

The International Finance Corporation, a member of the World Bank Group, and Wachovia Capital Markets have co-arranged the first international syndication for a microfinance institution in Latin America. The $40 million syndicated financing agreement will enable Peru’s Mibanco to offer longer loan maturities to its micro-enterprise clients and reach more customers in rural areas. Mibanco is Peru’s largest provider of microfinance loans by number of clients served and the second-largest by loan volume, with market share of about 14.2%.

Christmas is a time for giving and receiving but here at Euromoney we like to focus on the latter. The festive season brought a cluster of gifts from various financial institutions keen to remind us that they’re still afloat enough to be able to splash out on a thoughtful present or two for their favourite hacks.

Goldman Sachs has appointed Jim Esposito as global head of investment-grade financing, a new role that incorporates both the syndicate and origination businesses. Esposito was previously the head of US debt syndicate.

Euromoney targeted equity analysts covering Asian companies that were constituents as of July 26 2007 of the following indices, the biggest exchanges for domestic shares in the respective countries: Shanghai Composite (People’s Republic of China);

Private banking 2008: When the ultra-wealthy bump into the sub-prime

Feeling the GE force

Trading will continue to concentrate in the hands of the largest players.

Numerous celebrities made appearances in Icap’s offices around the world when the broker held its 15th annual charity day on December 12. The company donated all of the day’s brokerage – a total of £9.2 million ($18.8 million) – to various charities.