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Deutsche Bank resumes trading in European company CDS

Deutsche Bank AG has revived trading operations in credit default swaps, a measure of credit risk in debt markets, for investment-grade European companies, about five years after it exited the market due to regulation and higher costs, Bloomberg News reported, citing a spokeswoman at the German lender.

The recent introduction of clearing has reduced the costs of such activities, with Deutsche Bank looking to extend trading to cover high yield and banks and insurers, according to the spokeswoman. The lender was first reported by Bloomberg in February 2018 to be considering resuming CDS trading.

People familiar with the matter told Bloomberg News that Abhipreet Das will trade the contracts in London.

The move comes despite the ongoing restructuring at the Frankfurt-based institution, as it looks to focus on core businesses and reduce the bank's dependence on its investment banking division.