Merrill Lynch and Axa Real Estate Investment Managers have executed the first French property derivatives swap.The total-return swap is linked to the index on French commercial property, run by the London-based Investment Property Databank.
Cyrus Korat, head of structured credit trading at Merrill Lynch, said the French deal followed the rapid growth of activity in UK property derivatives. He added that property derivatives products were generating a lot of interest in mainland Europe.
More on Structured Products
Securities Financing Transactions Regulation could conflict with Emir reporting rules
Banks face loss of attractive source of dollar funding
Head of Office of Capital Markets Trends calls on issuers to examine sales practices
Eurozone QE programme prompts wave of investor interest
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.