During the past year, two traditional powerhouses in Asia scaled back their rates businesses on account of new regulations that made proprietary trading more expensive. For Société Générale (SG), this presented an opportunity. Traditionally known for its strength in equity derivatives, SG made a concerted push into rates structuring that was strong enough to secure top positions in key markets.
The bank's volumes over the past year are attention grabbing. Across the region, SG sold the equivalen