Securities | Fixed Income
The fixed income desk specialises in the trading and research of fixed income products in South Africa and forms an integral part of Cadiz Securities.
Products traded by the team include:
- local government and non-government bonds
- inflation-linked bonds
- derivatives, including Yield-X products, over-the-counter (OTC) options, swaps, forward rate agreements (FRAs) and credit derivatives
- negotiable certificates of deposit (NCDs) and zero-coupon bonds.
Clients are partnered in the structuring of interest rate products and portfolios, including hedging market risk for pension fund conversions, constructing liability benchmarks and portfolios for asset-liability management as well as restructuring corporate interest rate books.
Quantitative research covers the following areas:
- value-driven research such as yield-curve strategies and option overlays
- formal theme-based research covering topical areas in the bond market
- client-specific bespoke research
- fixed income attribution analysis.
These fixed income products and services are targeted at local retirement funds, asset managers, corporates, parastatals and hedge funds, while orders are also executed on behalf of foreign banks and hedge funds.
