Indian Market Readies I-Rate Futures Re-Launch

Indian fixed income traders are preparing for the return of interest rate futures in the coming weeks.

  • 08 Apr 2005
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Indian fixed income traders are preparing for the return of interest rate futures in the coming weeks. An initial futures contract was issued last year on the National Stock Exchange of India, but it was shunned because traders did not think the complex formula, which looked at the theoretical zero-coupon bond curve values, did not appropriately reflect market movements.

"The systems, infrastructure are in place--everything is ready, we're just waiting for the sign off," said Jayesh Mehta, head of debt at DSP Merrill Lynch in Mumbai.

The upcoming redesigned contract is expected to be linked more clearly to actively traded government bonds and should be more liquid, noted traders. "This will help the market and allow traders to go short," said another fixed income official.

  • 08 Apr 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 58,137.72 186 8.23%
2 JPMorgan 57,032.77 202 8.08%
3 Barclays 49,551.65 159 7.02%
4 Bank of America Merrill Lynch 42,095.04 147 5.96%
5 Deutsche Bank 38,217.89 137 5.41%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 6,045.16 4 18.58%
2 BNP Paribas 1,742.18 7 5.36%
3 Credit Agricole CIB 1,539.94 8 4.73%
4 MUFG 1,257.24 4 3.87%
5 SG Corporate & Investment Banking 1,165.08 6 3.58%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UBS 998.25 3 13.49%
2 Citi 693.55 2 9.37%
3 Morgan Stanley 572.72 3 7.74%
4 Bank of America Merrill Lynch 509.34 3 6.88%
5 Jefferies LLC 409.89 4 5.54%