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 66,398.25 210 8.43%
2 JPMorgan 62,989.04 222 8.00%
3 Barclays 53,876.84 175 6.84%
4 Bank of America Merrill Lynch 44,675.83 159 5.67%
5 Deutsche Bank 42,359.23 156 5.38%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 6,160.68 5 15.50%
2 Deutsche Bank 3,400.72 4 8.55%
3 Commerzbank Group 2,532.05 5 6.37%
4 Citi 2,513.95 6 6.32%
5 BNP Paribas 1,742.18 7 4.38%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UBS 998.25 3 12.68%
2 Citi 693.55 2 8.81%
3 Morgan Stanley 606.80 4 7.71%
4 Bank of America Merrill Lynch 509.34 3 6.47%
5 Jefferies LLC 409.89 4 5.21%