Indian Mart Readies For Accounting Changes

Derivative houses in India are awaiting accounting rules which should open the door for further market development.

  • 23 Jun 2006
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Derivative houses in India are awaiting accounting rules which should open the door for further market development. "While volumes continue to expand, product development has been on hold," said Srinivasan Varadarajan, treasurer at JPMorgan in Mumbai, explaining end-users are mostly piling into plain-vanilla interest-rate products and rupee foreign exchange options.

The Institute of Chartered Accountants of India, however, is working on rules and disclosures to clarify derivative positions. The changes are expected to be implemented by year-end. Market officials said once rules are settled for such issues as marked-to-market positions, regulators will be more open to giving the green light to additional products, such as local-currency interest-rate options. International houses have been lobbying regulators in India for such derivatives as caps, floors and swaptions for the last few years (DW, 11/17/03).

  • 23 Jun 2006

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 358,291.38 1348 9.06%
2 JPMorgan 320,704.66 1461 8.11%
3 Bank of America Merrill Lynch 318,128.31 1104 8.04%
4 Goldman Sachs 236,643.87 789 5.98%
5 Barclays 231,197.41 895 5.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 35,007.57 165 6.53%
2 Deutsche Bank 34,880.53 120 6.51%
3 Bank of America Merrill Lynch 31,805.65 97 5.93%
4 BNP Paribas 27,920.60 169 5.21%
5 SG Corporate & Investment Banking 24,398.89 138 4.55%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,745.92 80 8.85%
2 Morgan Stanley 16,334.63 83 7.32%
3 Citi 15,972.34 95 7.16%
4 UBS 15,487.17 60 6.94%
5 Goldman Sachs 14,053.61 76 6.30%