Nikko Citigroup is getting ready to offer equity-default swaps in the coming weeks. The nascent product class in Japan is attracting greater interest from international houses, resulting in the recent development of an interbank trading market (DW, 4/19). "We're gearing up for this," said Robert Nakamura, managing director and head of equity derivatives trading in Tokyo, noting that EDS-type structures will likely take off, partly due to the straight-forward nature of the structure. "Trigger events are easy to understand." The existing equity derivatives team will add EDS to its product line.
Nikko Citi Revs Up For EDS Launch
