Breaking point?

Cover story


Structured products based on equity, foreign exchange and interest rate underlyings form the backbone of Asia's financial derivatives markets. The contrast between derivatives trading desks in most of Asia's financial centre compared with the world's leading two financial hubs, London and New York, is dramatic.

In Asia, most staff are employed to cater to the demands of private and retail bank distributors for structured products - and the risks get laid off via warrants issuance or 'book axe' po