Battle formations


There has been ongoing speculation in the market as to what prompted China Eastern Airlines, Air China and Cosco to write letters in late August to a raft of commodities dealers, including Goldman Sachs, Morgan Stanley, JP Morgan, Citi, Credit Suisse, UBS and Deutsche Bank, allegedly at the behest of China’s State-owned Assets Supervision and Administration Commission (Sasac), challenging the legality of loss-making oil-related structured options.

The letters were largely similar in nature and a

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: