Hong Kong
FIXED income looks set to be increasingly not-so-fixed. BNP Paribas SA, Citigroup Inc, Credit Suisse Group AG and JPMorgan Chase & Co are teaming up to create a centralised platform that allows investors to change some features of bonds into almost anything they like.
The service, launching early next year, will offer repackaged notes known as repacks that will be issued through a special purpose vehicle, according to interviews with the banks involved. The structured securities allow buyers...
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