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
Regulator set to focus on backtesting and replicability of index products
The watchdog’s priorities for 2015 include drawing up new powers of product intervention
Contineo initiative set to transform structured product sector
Trade body says issuers will face unnecessary legal and compliance bills under Esma plans
Sign up for Risk.net email alerts
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
Nominated for two technology awards
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.