Japan's SMBC prepares credit derivatives desk

Japan’s Sumitomo Mitsui Banking Corporation (SMBC), one of the country’s big four banking groups, is planning to set up a dedicated Japanese credit derivatives desk by the end of the year.

The bank’s move is in response to increased customer demand for credit derivative products, as investors look for alternatives beyond the flailing stock and bond markets, according to an official at the bank in Tokyo. The team will likely number five or six traders, and will offer credit default swaps, credit-linked notes, and synthetic collateralised debt obligations.

“We are now discussing the structure and strategy of the group, but we expect to have a team in place before the end of the year,” the offical said.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

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 individual account here