MUFG launches CDS franchise in US with bet on volatility
Clearing helps Japanese bank branch out into US single names
Mitsubishi UFJ Financial Group has launched a single-name credit default swap (CDS) business in the US on the back of increased availability of clearing and an expected return of volatility.
Matthew Simpson, a former credit trader at Deutsche Bank and HSBC, has been handed the reins to MUFG’s business in the US, which officially launched on January 1. He tells Risk.net that launching a US CDS
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