HSBC blazes a trail in flagging Asian fixed income

HSBC holds the largest market share in Asian fixed income trading


HSBC continues to lead the way in the Asian fixed income trading by holding an 11.8% market share according to a report by Greenwich Associates. 

Citi achieved second place with 8.9% followed by Standard Chartered with 7.1%, Bank of America Merrill Lynch at 6.3% and the trio of J.P. Morgan, Nomura Securities and Deutsche Bank tying with market shares of between 5.1%-5.3%.

HSBC also claimed the title of Greenwich quality leader in Asian fixed income sales and fixed income trading.

These latest figures occur in spite of overall Asian fixed income trading declining between 2014-15, predominantly as a result of a 9% reduction in trading of credit products.  

The report puts these decreases down to an approach from sell-side firms concentrating on certain areas, particularly in the US and Europe, where they feel they may hold a competitive advantage. 

“Deep reductions in sell-side inventory levels and the exit of some dealers from the market altogether have made it harder for investors to execute trades, and are contributing to the overall slowdown in institutional Asian fixed- income trading volume,” said Greenwich Associates consultant Abhi Shroff.