JP Morgan
JP Morgan’s name has been almost synonymous with credit derivatives since the asset class was first created. The bank’s powerhouse is fuelled by an integrated credit trading team that comprises 46 credit traders, 20 credit hybrids traders, 17 credit structurers, 55 structured credit marketers and five credit derivatives analysts. In addition, the firm boasts a financial institutions derivatives marketing team and a corporate derivatives marketing team, both 60-strong.
Industry estimates put JP Morgan’s market share at around 31%. However, it was not this dominance that clinched the bank the award; it was its continued commitment to developing transparency and standardisation within the industry.
Andy Brindle, MD and global head of credit derivatives, says: “It has been our goal for several years now to transform the perception of the credit derivative market from a structured, exotic, buyer-beware market to a market that is standardised, simple and liquid. In our quest to open up the asset class, we have sought to improve the liquidity and tradeability of vanilla products, which are the building blocks of custom-made solutions for our clients.”
