JPMorgan sets up credit trading desk

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JP Morgan has followed Citigroup and Deutsche Bank in setting up a credit trading desk in Australia to place traders closer to the marketing and credit structuring staff already in place.

The investment bank has transferred David Hawkins, a credit trader in Tokyo where the Australian credit-default swaps were previously traded, to Sydney to spearhead the effort, Derivatives Week reports. It is not known whether additional hires will result.

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