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MasterCard advisors, a subsidiary of MasterCard International, is to acquire TowerGroup from Reuters.

Bank of America has formed an Electronic Trading Services (ETS) group, which is dedicated to developing and delivering a suite of electronic trading products to the bank's institutional investor clients. The move is part of BAS's strategy to become the technology leader in institutional trading.

The SEC has postponed the implementation of Section 404 of the Sarbanes-Oxley Act from June 15 to November 15 for accelerated filers - U.S. companies with a market cap over $75 million that have filed annual reports with the SEC - and from April 15 2005 to July 15 2005 for all others.

Beijing-based Capital Group is planning an overseas listing to raise $4 billion in the next two to three years.

AIM Global, the international arm of US-based AIM Investments unveiled its new momey market funds website in February.

RWE, the German utility company, has decided to sell its stake in Hochtief AF - the construction company - through a direct placement of shares and an exchangeable bond. RWE hopes to raise ?900 million.

Triple-A rated money market funds are proving increasingly attractive for institutional investors as assets under management promoted by IMMFA members grew to $174.5 billion at the end of 2003, up from $130 billion at 2002 year-end. The Institutional Money Market Funds Association is the trade association for the providers of services to the triple-A rated money market funds which are being increasingly targeted by corporate treasurers as a way to raise short-term debt.

The Mall Ha'Yam shopping center in Eilat will be the first Israeli shopping centre to issue bonds when it taps institutionals for NIS 180 million ($40.4 million) in March.

South Korea's corporate bond issues are expected to reach a 12-month high in Febraury, thanks to waning corporate credit risks, sources said Wednesday.

London-listed Xstrata and South Africa's Chrome & Alloys have merged their chrome and ferrochrome assets creating a new joint venture worth R8 billion ($1.2 billion). The deal also creates the world's leading ferrochrome producer with 30% of the world market. SA Chrome is owned by Royal Bafokeng Resources Holdings and the Industrial Development Corporation, while Xstrata is a major diversified mining company operating in six major international commodities. The new company will be known as Xstrata-SA Chrome Venture.

THE US private placement corporate bond market is attracting an increased number of Australian companies, offering long-term money with attractive yields. The number of private placements by Australian issuers in the US jumped from 12 to 23 last year, with the total funds raised increasing from $US2.4 billion ($3.12 billion) to $US4.1 billion ($5.33 billion).Private placements do not require a credit rating and the market is open to borrowers that are below investment grade. The market provides fixed-rate funding for terms of from seven to 15 years, which is rarely available in the Australian market.

AB Svensk Exportkredit (SEK) has issued a bond loan of €1 billion in the international capital market. The loan has a maturity of three years and is arranged by Goldman Sachs and UBS. It is the company's first benchmark bond issue in euros.