Sharing the spoils

Brisk business in Asia in the past year has brought substantial end-user derivatives business for the major dealers. But there can only be one winner of Asia Risk's end-user survey, and that is Deutsche Bank, which has nudged out Citi for the first time in six years

Buoyant economies, major currency movements, region-wide M&A and private equity activity, as well as booming stock markets, have boosted demand for financial skills and services across Asia in the past year. And the market leaders in derivatives have again shone in some fiercely competitive arenas, where margins on last year's exotics have fallen significantly.

Those polled in the Asia Risk end