CDS options emerge in Asia
Credit default swap (CDS) options on Asian names have emerged on broker screens, with two CDS option trades referenced to Hong Kong conglomerate Hutchison Whampoa trading through brokerage firm Icap in early June.
“CDS options come naturally as a tool to enhance risk management and allow further product development in that area,” says Emmanuel Ramambason, head of credit trading Asia, at BNP Paribas in Tokyo. “BNP Paribas is quite bullish about this product family; we want to be at the forefront of its start in Asia.”
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