A plethora of new products in the credit derivatives market means that investors, and sometimes bankers, struggle to keep up with developments. Natasha de Teran asks why some products take off easily while others strain to build traction.
Credit derivatives have been the hottest and fastest growing sector of the over-the-counter (OTC) derivatives market for some time now, drawing in players in ever-greater numbers.

Banks could profit from the burgeoning repo market if their collateral management is sophisticated enough, yet few have attempted to integrate this function. Natasha de Teran reports.
With the increasing focus on risk-reduction and the imminent arrival of Basel II, the fast-growing repo market – in which the seller of securities agrees to buy them back at a specified time and price – is likely rise to prominence and expand beyond recognition.
Banks that are already at the forefront of secured lending will profit from this growth but, as more assets are added into the acceptable collateral pool, sophisticated collateral management capabilities will become imperative.

Exchanges and clearing houses, faced with compressed margins and increasing competition, are looking outside traditional sectors for growth opportunities and delving into over-the-counter markets. How are banks turning this threat to their advantage? Natasha de Teran investigates.
Gone are the days of strictly marked territories, when exchanges and their clearing houses had a guaranteed stronghold on specific markets. The concept of these being “sleepy” utilities has not yet faded but both are starting to change the ways they do business – even, in some cases, by encroaching on areas that used to be the unchallenged preserve of banks or brokers, their principal customers.

Reuters’ hook-up with the Chicago Mercantile Exchange has been welcomed by the market. More importantly, it marks the start of another evolution in FX trading, as William Essex reports.

In the fast-moving world of FX trading, speed is of the essence. Delivering the right data to clients at the right time can make the difference between turning a profit and making a loss. William Essex looks at the issues surrounding data latency.

Mark Pelham looks at the rise of the euro commercial paper
market and whether it can sustain its phenomenal rate of growth to
challenge the dominant US market.

As electronic trading platforms report increased trading, some firms are attempting to fill a gap in the market with customer-to-customer trading facilities. But is there a demand? 

Charles Piggott analyses the results of The Banker's survey of up and coming electronic trading systems for bonds.