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Article: Strong emerging market bonds drive credit derivatives growth.
- Article from:
- Financial News
- Article date:
- June 29, 2003
CopyrightCOPYRIGHT 2003 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Natasha de Teran
The strong performance of emerging market bonds is propelling fast growth in emerging market credit derivatives (CDs).This year, the Emerging Market Traders' Association (EMTA) published its first report on CD activity, which revealed that volumes reached $23bn (e19.8bn) during the first quarter. Meanwhile, Deutsche Bank estimates that the overall size of this market, excluding emerging Asia, stands at between $200bn and $300bn when measured in terms of the notional amount of contracts outstanding.
Although emerging markets CDs account for less than a 10th of the volumes reported in the cash markets in the same EMTA survey, ...