Asia To Get 10-Year Credit Index

Credit derivative houses in Asia have agreed to start trading 10-year contracts referenced to the iTraxx credit derivatives index next week when the indices rollover.

  • 11 Mar 2005
Email a colleague
Request a PDF

Credit derivative houses in Asia have agreed to start trading 10-year contracts referenced to the iTraxx credit derivatives index next week when the indices rollover. "This will likely be used by customers to hedge existing positions or hedge their overall portfolios," said an official at JPMorgan. Dealers have been talking about launching this contract since the onset of the year (DW, 1/7), but there were concerns about limited liquidity. The emergence of longer-dated credit-default swaps and portfolio swaps linked to Asian names, however, gave dealers comfort there would be liquidity in the index.

"There's more seven and 10 year names being quoted as well as greater curve trades," said a trader at a U.S. house, noting the growing interest for trades in the longer end as clients search for yield.

  • 11 Mar 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 213,435.46 816 8.07%
2 JPMorgan 198,165.00 885 7.49%
3 Bank of America Merrill Lynch 189,326.39 632 7.16%
4 Barclays 167,507.64 591 6.33%
5 HSBC 148,871.89 681 5.63%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 29,830.94 52 6.97%
2 BNP Paribas 28,182.03 110 6.58%
3 UniCredit 21,953.74 102 5.13%
4 Credit Agricole CIB 21,885.13 102 5.11%
5 SG Corporate & Investment Banking 21,814.64 83 5.10%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 9,508.41 44 8.72%
2 JPMorgan 9,409.35 41 8.63%
3 Citi 7,634.33 42 7.00%
4 UBS 5,950.83 20 5.46%
5 Deutsche Bank 5,145.17 32 4.72%