JP Morgan top house in Asia

JP Morgan top house in Asia

HONG KONG (Reuters): U.S. investment bank JP Morgan is the top house in Asian derivatives, a survey by the financial risk management publication Asia Risk said yesterday.

The bank snatched top position from Chase Manhattan, which ranked first in 1995 and 1996, Asia Risk said in a statement.

In the survey with derivatives dealers, JP Morgan scored well in most of the Thai baht, Indonesian rupiah and Malaysian ringgit currency derivatives categories.

It ranked first in seven of the 21 categories polled, which included interest rates swaps, currency swaps, currency options, foreign exchange forwards and equity derivatives.

SBC Warburg Dillon Read was cited the best currency options house in the region.

Credit Lyonnais and Merrill Lynch were joint winners in the popular Hong Kong covered warrant market.

The survey polled over 100 banks, brokers and other derivatives dealers in Asia.