Awards rationale

To put it mildly, it has been a tough year in the Asian structured products market. It could not be more of a contrast to last year's product frenzy, in which almost any bank could claim a sizeable market share and boast of soaring sales. Plunging equity markets have wreaked havoc with products across the region. Mark-to-market values of accumulator trades in Hong Kong and target redemption notes in Taiwan drew gasps, while first-to-default credit notes in Singapore have certainly seen better

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