Lehman Brothers has restructureed its interest-rate derivatives trading group in New York to create a cross-rates operation offering customers packages of risks from various trading desks. The initiative, which closely resembles cross-rates operations at Deutsche Bank and UBS Warburg, was set up last month after the firm moved offices, according toKaushik Amin, managing director and global head of interest-rate products in New York.
When the firm moved offices it put the swaps, governments and agency desks next to each other and this has allowed them to work more closely with each other. Previously the desks were in separate parts of the bank, said Amin.
