Fixed income seems to be ever more "not-so-flat."
BNP Paribas SA, Citigroup Inc., Credit Suisse Group AG and JPMorgan Chase & Co. will work together to create a centralized platform that allows investors to change some futures of bonds in almost anything they like.
The service, launched early next year, will offer repackaged notes, known as repacks, which will be issued through a special purpose vehicle.
Low interest rates and narrow credit spreads fueled demand for debt proposals conformed as investors look for more innovative ways to profit
Lenders will initially introduce the platform in Europe, the origin of most requests for service, and Asia, where the market Repack is significant, said Paul Smith of Citigroup.
E.Dimitrov JrTrader
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