THE J.P. MORGAN GUIDE
TO CREDIT DERIVATIVES
With Contributions from the RiskMetrics Group
Published by
Contacts
NEW YORK
Blythe Masters
Tel: +1 (212) 648 1432
E-mail: masters_blythe@jpmorgan
LONDON
Jane Herring
Tel: +44 (0) 171 2070
E-mail: herring_jane@jpmorgan
Oldrich Masek
Tel: +44 (0) 171 325 9758
E-mail:masek_oldrich@jpmorgan
TOKYO
Muneto Ikeda
Tel: +8 (3) 5573 1736
E-mail:ikeda_muneto@jpmorgan
NEW YORK
SarahXie
Tel: +1 (212) 981 7475
E-mail:sarah.xie@riskmetrics
LONDON
RobFraser
Tel: +44 (0) 171 842 0260
E-mail : rob.fraser@riskmetrics
Credit Derivatives are continuing to enjoy major growth in the financial markets, aided
and abetted by sophisticated product development and the expansion of product
applications beyond price management to the strategic management of portfolio risk.As
BlytheMasters, global head of credit derivatives marketing at J.P. Morgan in New York
points out: “In bypassing barriers between different classes, maturities, rating categories,
debt seniority levels and so on, credit derivatives are creating enormous opportunities to
exploit and profit from associated discontinuities in the pricing of credit risk”.
With such intense and rapid product developmentRisk Publications is delighted to
introduce the first Guide to Credit Derivatives, a joint project with J.P. Morgan, a
pioneer in the use of credit derivatives, with contributions from the RiskMetricsGroup,
a leading provider of risk management research, data, software, and education.
The guide will be of great value to risk managers addressing portfolio concentration risk,
issuers seeking to minimise the cost of liquidity in the debt capital markets and investors
pursuing assets that offer attractive relative value.
Introduction
With roots in commercial, investment, and merchant banking, J.P.Morgan today is a
global financial leader transformed in scope and strength.We offer sophisticated
financial services to companies, governments, institutions, and individuals, advising on
corporate strategy and structure; raising equity and debt capital; managing complex
investment portfolios; and providing access to developed and emerging financial
markets.
J.P. Morgan’s performance for clients affirms our position as a top underwriter and
dealer in the fixed-income and credit markets; our unmatched derivatives and emerging
markets capabilities; our global expertise in advising on mergers and acquisitions;
leadership in institutional asset management; and our premier position in serving
individuals with substantial wealth.
We aim to perform with such commitment, speed, and effect that when our clients have a
critical financial need, they turn first to us.We act with singular determination to
leverage our talent, franchise, résumé, and reputation - a whole that is greater than the
sum of its parts - to help our clients achieve their goals.
Leadership in credit derivatives
J.P. Morgan has been at the forefront of derivatives activity over the past two
decades.Today the firm is a pioneer in the use of credit derivatives - financial
instruments that are changing the way companies, financial institutions, and investors
in measure and manage credit risk.
As the following pages describe, activity in credit derivatives is accelerating as users
recognise the growing importance of managing credit risk and apply a range of
derivatives techniques to the task.J.P. Morgan is proud to have led the way in
developing these tools - from credit default swaps to securitisation vehicles such as
BISTRO - widely acclaimed as one of the most innovative financial structures in
recent years.
We at J.P. Morgan are pleased to sponsor this Guide to Credit Derivatives, published
in association with Risk magazine, which we hope will promote understanding of
these important new financial tools and contribute to the development of this activity,
particularly among end-users.
In the face of stiff competition, Risk magazine readers voted J.P. Morgan as the highest overall
performer in credit derivatives rankings. J.P. Morgan was was placed:
About J.P. Morgan
1sr credit default swaps - investment grade
1st credit default options
1st exotic credit derivatives
2nd credit default swaps - emerging
2nd basket default swaps
2nd credit-linked notes
For further information, please contact:
J.P. Morgan Securities Inc
Blythe Masters (New York)
Tel: +1 (212) 648 1432
E-mail: masters_blythe@jpmorgan
J. P. Morgan Securities Ltd
Jane Herring (London)
Tel: +44 (0) 171 779 2070
E-mail: herring_jane@jpmorgan
J. P. Morgan Securities (Asia) Ltd
Muneto Ikeda (Tokyo)
Tel: +81 (3) 5573-1736
E-mail: ikeda_muneto@jpmorgan
。。。以上简介无排版格式，详细内容请下载查看