BARCELONA - As is always the case at the Information Management Network's ABS summit held here, this year's attendance for the second day's opening session was sparse, which means that either the attendees didn't bother with the hangover kits handed out at several booths the day prior, or the cure didn't work. But the small audience did little to stop panelists - who were in full attendance- from having an interesting discussion on some of the more innovative aspects of European securitization.
The allure of European emerging market and new asset transactions have taken somewhat of a backseat to the more established Western European market, which is flooded with repeat, benchmark issuers. But despite this, panelists at the second opening session called, New Frontiers and Developments in European Securitization, said that there are still lots of innovations to be found. Alain Carron, managing director at Standard & Poor's and moderator at this panel, said that over the past year, he's seen a dramatic shift in the type of inquiries from these jurisdictions.