Interest rate derivatives house of the year BNP PARIBAS

Risk Awards 2006

2005 was far from a vintage year for the interest rate derivatives markets. Limited volatility prevailed for the third consecutive year; while a lack of resolve among regulators, notably in the Netherlands, to force pension plans and life insurers to rapidly adjust their asset/liability management (ALM) mismatches meant a number of the expected mega ALM deals failed to materialise – although there were a number of sizeable transactions carried out in the UK.

The year was characterised by