Floaters give HSBC the edge in Asia rates market

Asia Risk Awards 2014: Interest Rate Derivatives House of the Year – HSBC

Swami Ravichandran
Swami Ravichandran, HSBC

The malaise in rates markets following the taper tantrum in May 2013 when the US Federal Reserve announced it would begin tapering back its $70 billion a month in bond purchases combined with low levels of volatility has resulted in a tough year for most rates dealers.

Revenues are down, with the 10 largest investment banks witnessing a 16% fall in fixed-income, currencies and commodities revenue in the first quarter of this year, according to analytics firm Coalition. Interest rate derivative

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