OCBC in derivatives trading push
Singapore's OCBC Bank is preparing to launch a credit derivatives trading desk by the end of the year.
Derivatives Week reports that an OCBC official said "This should be up and running by the end of the year."
The firm has recently built up a credit trading unit focusing on cash instruments, and will next push into credit default swap trading.
The move is seen as part of OCBC's push into derivatives to take on higher margin profits. It is not yet clear whether the bank will be making external hires.