Deutsche Bank dominates Australia derivatives market

Structuring capabilities and local presence give Deutsche the edge

Vic Jokovic
Vic Jokovic, Deutsche Bank

Australia's net migration rate has seen more than 200,000 new arrivals a year since the start of the financial crisis but banking is one sector which has bucked this trend – first global houses slashed headcount in Sydney, and then they started moving businesses wholesale to their Asian hubs in Hong Kong and Singapore.

And even those firms that remain on the ground have scaled back their product offering – for example last year's winner UBS sold a $25 billion Australian credit default swap portf