Citi buys $250bn Deutsche Bank single-name CDS portfolio

Nearly 2.5% of single-name CDS market changed hands in trade last September

citibank

Deutsche Bank sold a portfolio of single-name credit default swaps (CDSs) with a notional value of nearly $250 billion to Citi at the end of September last year as it reined in its single-name CDS trading business.

A source close to Deutsche Bank confirmed the size and timing of the trade. A Deutsche Bank spokesperson declined to comment.

According to industry sources, a $250 billion portfolio would represent around 5–10% of a large dealer's total CDS book, across index and single-name trades.

D

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net 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: