Chinese credit certificates trading imminent, says NAFMII

Registered dealers in China could start trading credit risk certificates—a similar product to credit default swap contracts—within the next few weeks. The certificates will allow holders of them to deliver the underlying to the issuer upon the event of a default.

  • 22 Nov 2010

Credit risk mitigation certificates could start trading in China within the next two weeks, a National Association of Financial Market Institutional Investors official told sister publication Derivatives Week.

Upon a credit event, a holder of such certificates has to deliver the physical underlying to the issuer who has ...

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Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 25,058.57 86 9.36%
2 HSBC 25,008.89 143 9.34%
3 Citi 23,870.29 107 8.91%
4 Bank of America Merrill Lynch 19,622.35 74 7.33%
5 Deutsche Bank 14,163.84 48 5.29%

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  • 19 Jul 2016
1 JPMorgan 11,391.16 24 14.97%
2 Bank of America Merrill Lynch 8,863.16 21 11.64%
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4 HSBC 7,193.85 20 9.45%
5 Citi 6,842.85 17 8.99%

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1 Citi 10,351.99 40 11.98%
2 JPMorgan 7,715.00 30 8.93%
3 HSBC 6,523.79 36 7.55%
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5 Bank of America Merrill Lynch 5,384.72 13 6.23%

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2 Goldman Sachs 162.26 37 8.77%
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1 UniCredit 2,920.83 18 15.56%
2 SG Corporate & Investment Banking 1,909.54 10 10.17%
3 Citi 1,738.14 9 9.26%
4 ING 1,689.76 12 9.00%
5 Mitsubishi UFJ Financial Group 971.54 4 5.17%

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1 AXIS Bank 3,830.21 82 24.06%
2 Trust Investment Advisors 1,936.30 97 12.16%
3 HDFC Bank 1,643.78 57 10.32%
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