HSBC Sees $250 Million of India Swap Deals Before JPM Inclusion

HSBC Holdings Plc has executed nearly half the volume of bond-derivative trades in India’s international finance hub over the last month, ahead of the sovereign bonds’ inclusion in a key global index.

The British bank, via its unit in the International Financial Services Centres Authority, carried out the so-called total return swap deals worth more than $250 million with foreign investors who want onshore bond exposure, its head of India markets said. That compares with a total volume of about $510 million.