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This could be just the beginning of a battle between exchanges and their users.

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DrKW has embraced blogging in a big way. The fondness for internet opinion boards has spread from the bank’s IT staff to the rest of the bank, which now has about 300 internal web logs, used for sharing work ideas.

The Lehman Bond Show will now be available via podcast.

Latin American companies are shedding reputations for irresponsible management to become competitors, and even leaders, in the global markets. So much so that some don’t even want to be considered Latin any more. Lawrence White analyses the results of Euromoney’s first survey of the best-managed companies in the region.

The fortunes of Korea Exchange Bank, the Korean lender controlled by US private equity fund Lonestar, have been joined at the hip to those of its biggest debtor, Hynix Semiconductor, for years. Despite the successful restructuring of the company, it would appear that little has changed.

Inside Citigroup’s plans for emerging markets domination | Citigroup builds on diversity in CEEMEA | Citigroup still looking for more from Asia | Druskin aims to seize the initiative

Bob Druskin is president and chief executive of Citigroup’s corporate and investment bank. He joined Smith Barney in 1991 as chief administrative officer and worked in a number of businesses, including asset management and operations. He became president and chief operating officer of the CIB in August 2002 and was appointed chief executive in December 2003.

One of his first tasks was to reorganize the CIB. Today the bank comprises three units: global banking, global markets and global transaction services. Running in parallel to this structure are the regions.

Druskin spoke to Euromoney in New York about the restructuring and the challenges that lie ahead. Sudip Roy reports.

Taishin Financial’s share price soared 14% on the first day after the announcement of its link-up with Asian private equity firm Newbridge Capital, and gave a shot in the arm to Taiwan’s banking sector. Finally, it seemed, someone wanted to invest in a Taiwanese bank.

Arcelor, the Luxembourg-based steel company that has in the past preferred not to use bank advisers, is wheeling out the big guns to defend it against the €18.6 billion ($22.1 billion) hostile bid from Mittal Steel. It has just hired Morgan Stanley, which will join BNP Paribas, Deutsche Bank, UBS and Merrill Lynch in advising it. Most of the main advisory firms are involved in the hostile bid on one side or the other. Mittal Steel is being advised by Credit Suisse, Goldman Sachs, HSBC, Société Générale and Citigroup.

The sale of Hotspot has prompted a torrent of speculation about the future of other ECNs. But it seems the rumours about new owners for FXall are true.

Cheyne Capital Management sold one of the largest-ever European arbitrage CLOs last month via Nomura. The €1 billion Cheyne Credit Opportunity CDO 1 incorporated several structural features to overcome problems that could arise from its relatively large size. In contrast to typical CLOs, which are normally half the size, 40% ramped up at launch and have around a year to complete sourcing loans, Cheyne Credit Opportunity has a two-year time period to ramp up fully. This extra flexibility will be particularly useful. The competition for leveraged loans will be greater than ever, given that an estimated 35 CLOs are operating this year, compared with about 25 last year.