Nascent Credit Index Wins 20% Of Japanese Volumes

  • 25 Aug 2003
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The CJ 50, an index of 50 Japanese credit-default swaps, has mushroomed to account for around 20% of credit trading volumes just weeks after its launch in the interbank market. BNP Paribas, Bank of Tokyo-Mitsubishi and Goldman Sachs set up the index, but five more firms including Bear Stearns and UBS now make markets in the instrument. Stephane Delacote, head of credit trading at BNP in Tokyo, expects 10 firms to be trading the index by year end. This will boost volumes to around 25% of the market, added Delacote.

Typical ticket sizes are JPY500 million-1 billion (USD4.23-8.46 million), noted Delacote.

  • 25 Aug 2003

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 324,607.67 1260 8.10%
2 JPMorgan 317,157.29 1380 7.92%
3 Bank of America Merrill Lynch 292,436.96 1003 7.30%
4 Barclays 245,367.72 916 6.12%
5 Goldman Sachs 216,514.13 726 5.40%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 45,589.37 178 7.11%
2 JPMorgan 43,572.44 88 6.79%
3 Credit Agricole CIB 33,071.14 158 5.15%
4 UniCredit 32,917.16 149 5.13%
5 SG Corporate & Investment Banking 32,145.89 124 5.01%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,559.65 59 8.93%
2 Goldman Sachs 13,209.37 65 8.70%
3 Citi 9,711.73 55 6.40%
4 Morgan Stanley 8,471.86 53 5.58%
5 UBS 8,136.41 33 5.36%