Aussie Traders Discuss 10-Year iTraxx

Australian credit derivative players are looking into launching a 10-year contract on the iTraxx Australia index, which could kick off early next year.

  • 16 Sep 2005
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Australian credit derivative players are looking into launching a 10-year contract on the iTraxx Australia index, which could kick off early next year. One senior credit trader said the idea was brought up during discussion about rollover changes this week in the five-year Australian credit index. Dealers said increasing volumes of seven- and ten-year global collateralized debt obligations containing Aussie names has brought about greater trading of longer maturity contracts. A trader at another firm added it should be possible to launch a 10-year contract with the iTraxx rollover in March. "There should be enough liquidity," he noted.

As for the iTraxx rollover this week, Aussie market participants were in conference calls debating potential changes in the names of the index as DW went to press last week. "We're still polling names but I expect three or four changes," said a credit trader at Deutsche Bank in Sydney. Dealers expect General Property Trust, for instance, to be included following pickup in trading of protection on the name in recent months.

  • 16 Sep 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 329,208.56 1277 8.09%
2 JPMorgan 321,584.64 1392 7.90%
3 Bank of America Merrill Lynch 296,878.25 1014 7.29%
4 Barclays 249,463.73 926 6.13%
5 Goldman Sachs 218,838.41 733 5.38%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 46,136.68 182 7.00%
2 JPMorgan 44,545.29 93 6.76%
3 UniCredit 35,639.50 153 5.41%
4 Credit Agricole CIB 33,211.72 160 5.04%
5 SG Corporate & Investment Banking 32,419.80 126 4.92%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 13,755.50 61 8.94%
2 Goldman Sachs 13,469.15 66 8.76%
3 Citi 9,716.40 55 6.32%
4 Morgan Stanley 8,471.86 53 5.51%
5 UBS 8,248.12 34 5.36%