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Beefing up
Stock markets had their toughest year in 2022 since the global financial crisis, hurting long-only investors and testing the risk management prowess of banks’ trading desks. For continuing to expand its business in this challenging environment, BNP Paribas is IFR’s Equity Derivatives House of the Year.
The flow show
Credit trading desks had a tough 2022 as volatility soared and spreads widened following Russia’s invasion of Ukraine. For growing its flow-trading business while helping clients to navigate these choppy markets, Barclays is IFR’s Credit Derivatives House of the Year.
Macro returns
Rising interest rates triggered dramatic swings in financial markets in 2022 as inflationary concerns returned to the fore. For building out its inflation business while helping clients in the transition to a higher rate environment, Citigroup is IFR’s Interest Rate Derivatives House of the Year.
Rescue act
Currency volatility picked up sharply in 2022 as central banks began raising interest rates aggressively. For expanding its FX options market share in this turbulent environment, while successfully revamping its electronic offering in FX swaps and forwards, Deutsche Bank is IFR’s Foreign Exchange Derivatives House of the Year.
Balanced books
Commodity markets went on a wild ride in 2022 following Russia’s invasion of Ukraine and a spike in global energy prices. For diversifying its business into Europe and Asia while helping clients navigate these volatile markets and the energy transition, Bank of America is IFR’s Commodity Derivatives House of the Year.
The Middle East was one of the few bright spots globally in equity capital markets in 2022, with IPOs regularly flooded with billions of dollars of demand. Bankers believe that not only is issuance sustainable, but the diversity of sectors, types of deals and even geographic location of companies tapping the market will expand, ensuring the region is a significant part of future ECM activity.
The UK’s LDI crisis was one of the most shocking events in the financial markets in 2022. What went wrong and what happens now?
So-called perfect storms are becoming more frequent in the financial world. The UK will need to tread carefully to avoid being caught in another one.
Buffeted by Covid-19 and caught in the crosshairs of Sino-US tensions and an authoritarian Chinese regime, Hong Kong’s ability to adapt is under sharp focus as it seeks to remain relevant as a global financial centre.
As Japan makes the crucial move to net-zero carbon emissions and other environmental targets, it is relying on transition finance as the mechanism to get there.
