Singapore banking giant DBS is looking to increase its presence in the regional credit market this year and plans to become a market-maker in the Dow Jones iTraxx Asia credit derivatives index. "We'll become a market-maker shortly," said Sandeep Gill, head of credit derivatives in the Lion City.
DBS will likely kick-start its market-making effort and start structuring tranched products in the first quarter. Gill said it decided to make the plunge now because the index instruments, which were launched last summer (DW, 7/11), and initially developed slower than he expected, have now become an established instrument.