BNPP overtakes Barclays in Ucits single-name CDSs
Counterparty Radar: Europe’s retail funds shed notional but used wider range of underlyings, new data shows
BNP Paribas added $117 million in uncleared single-name credit default swap (CDS) notional with Ucits funds in the second half of last year to become the largest European dealer serving the region’s retail funds in the space.
With a book totalling $807 million in notional, the French bank surpassed Barclays, which lost positions worth a combined $317 million, representing 31% of its notional.
The single-name CDS market for Ucits funds as a whole shrank by $501 million to $9 billion in the second
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