Credit derivatives are the fastest growing sector in the over-the-counter market. Our survey of this market (Risk February 2002, page 24) showed many dealers had doubled their volume of vanilla default swap trading in 2001, compared with 2000. Until recently, a handful of dealers were pulling well ahead of the others – but that’s changing. Among the chasing pack, Dresdner Kleinwort Wasserstein (DrKW) in particular is looking to catch up with the market’s leaders.
Key to the German bank’s eff
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