Asian credit default swaps (CDS) have recently seen an increasing popularity. While traditionally being used for risk management, they are now increasingly becoming a portfolio management tool. 

In April, there were media reports that the premiums for South Korean credit default swaps had risen to their highest level in nine months on the back of rising tensions between North Korea and the US. And earlier this month, Standard Chartered Bank (China) announced it successfully concluded the first onshore CDS deal conducted by a foreign bank in China.

In an environment of heightened risk, more real money asset managers are paying attention to the Asian CDS space, and are looking for the right salespeople and traders to service them. Speaking about one CDS trader, a portfolio manager at a large real money manager based in Hong Kong says, “He more trades for himself rather than for client flow.” Being more than a common complaint, this illustrates the extent to which the buyside measures traders on their market making ability for the wider client base.

It is in this environment that Asset Benchmark Research (ABR) releases its 2017 ranking. The top salespeople have remained relatively static, with Gregory Camous of BNP Paribas taking first place again this year. In execution, Prashant Pandey, who moved from BNP Paribas to Barclays earlier this summer, leads the pack.

“The trader Amit Shah stands out for CDS,” says one portfolio manager of the flow trader that takes second place from BNP Paribas. A newcomer to the ranking this year is HSBC’s Salih Unsal who shares the third spot with Duncan Robinson at Deutsche Bank.

For the latest rankings of the Best Individuals in Asian CDS for 2017, please click here.