ABN Amro To Expand

Reuters reports that the bank was recently established its G3 product marketing team in China and has launched Thai baht and ringgit interest rate swaps businesses in both Bangkok and Kuala Lumpur.

Greg Major, head of Asia Pacific derivates marketing, has now said that the bank will probably launch a Philippine peso and Indonesia rupiah interest rate swap books later this year.

Derivatives business is considered to be a high-growth area in Asia as the market is still in the early stages of development. It is believed that the size of the market could double each year for several years and investment banks will no doubt be fighting for a share of the lucrative spoils.