Richard Stuart-Reckling
Morgan Stanley's head of credit derivatives discusses the eagerly awaited credit derivatives futures contract as Eurex readies its launch
Q Eurex, the European derivatives exchange, plans to launch a credit derivatives futures contract based on the iTraxx indices by year-end. How will this help credit derivatives develop as an asset class in its own right?
A Following the successful launch of the iTraxx credit indices in June 2004, we have witnessed exponential growth in the credit derivatives market. Volumes have spiked in second-generation products linked to iTraxx such as tranches, options and to a lesser extent first-to-default
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