CDOs/CLOs

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Lehman Brothers 61,568.9 1 11.3 136 Royal Bank of Scotland Group 58,496.5 2 10.7 108 Countrywide Securities Corp 49,152.7 3 9.0 83 Citigroup 40,708.3 4 7.5 89 Deutsche Bank AG 39,018.8 5 7.2 90 Credit Suisse 36,107.6 6 6.6 86 Morgan Stanley 31,007.1 7 5.7 33 Merrill Lynch & Co Inc 30,201.8 8 5.5 50 JP Morgan 29,557.5 9 5.4 67 Bear Stearns & Co Inc 28,447.2 10 5.2 86 Industry Total 544,938.9 - 100.0 1,005 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Citigroup 11,358.1 1 19.1 13 Deutsche Bank AG 8,562.5 2 14.4 12 Credit Suisse 6,548.1 3 11.0 10 Wachovia Corp 4,871.9 4 8.2 4 Banc of America Securities LLC 4,720.6 5 8.0 6 Morgan Stanley 4,248.4 6 7.2 6 Lehman Brothers 3,873.7 7 6.5 3 Merrill Lynch & Co Inc 3,819.9 8 6.4 4 Goldman Sachs & Co 3,809.3 9 6.4 5 RBC Capital Markets 2,179.0 10 3.7 4 Industry Total 59,340.9 - 100.0 42 Source: Thomson Financial

auto ABS 11% credit card ABS 8% catatrophe bonds 0% enterprise finance 0% equipment ABS 2% real estate ABS 70% structured settlements 0% student loan ABS 8% trade receivables 1% utilities ABS 0%

Florham Park, N.J.-based GSC Group, an alternative asset investment manager, recruited Robert P. Seery as senior vice president in its structured finance group, to spearhead the development of funding vehicles for the company's structured finance business. Previously, Seery worked for International Asset Transactions, a privately held capital markets specialist, where he was COO since 2003. He also directed the planning and rollout of the firm's asset management strategy, which was partially funded with asset-backed commercial paper. Before joining International Asset Transactions, Seery, 52, was a vice president and controller for Commerzbank Capital Markets Corp.

Judging by the types of loans it is no longer originating, subprime lender Fremont Investment & Loan may have a house recipe sure to provide a healthy portion of early payment defaults: begin with a stated income 80/20 combo loan, mix in a purchase money home buyer with a FICO score below 640 and then bake in a low home price appreciation environment. Cooking times vary by geographic area.

You knew it was coming. Several CPDOs that reference the ABX.HE indices are in the oven, according to industry sources. Just a short time after this type of deal's debut, the CPDO structure - a new spin on CPPI - is garnering a lot of attention.

Investors synthetically referencing the recently bankrupt U.S. auto parts manufacturer Dura Automotive Systems, for the first time this week, will use the International Swaps and Derivatives Association's (ISDA) revamped auction protocol. Tuesday will bring the first auction protocol that opens up the cash settlement option to a much wider range of derivative instruments - including single-name CDS, first-to-default baskets and constant maturity swaps - along with the traded indices. Cash settlement will take place on Dec.12.

Structured Finance Advisors, one of the industry's earliest CDO pioneers, is soliciting equity buyers for a $1 billion high-grade ABS CDO that it is putting together.

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Citigroup 10,940.0 1 15.0 18 JP Morgan 10,765.7 2 14.8 22 Wachovia Corp 9,764.8 3 13.4 16 Barclays Capital 7,412.3 4 10.2 11 Deutsche Bank AG 6,768.3 5 9.3 15 Banc of America Securities LLC 5,021.6 6 6.9 9 Credit Suisse 4,066.8 7 5.6 8 Royal Bank of Scotland Group 3,644.0 8 5.0 8 Merrill Lynch & Co Inc 3,290.4 9 4.5 6 HSBC Holdings PLC 3,227.9 10 4.4 4 Industry Total 72,905.3 - 100.0 78 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Merrill Lynch & Co Inc 37,955.7 1 13.9 54 Citigroup 30,106.9 2 11.1 53 Deutsche Bank AG 25,681.0 3 9.4 52 UBS 20,852.1 4 7.7 58 Credit Suisse 18,707.8 5 6.9 28 Wachovia Corp 17,345.4 6 6.4 42 Banc of America Securities LLC 16,965.1 7 6.2 36 Bear Stearns & Co Inc 16,512.0 8 6.1 33 Morgan Stanley 15,399.0 9 5.7 60 JP Morgan 12,904.1 10 4.7 34 Industry Total 272,309.8 - 100.0 546 Source: Thomson Financial