Prior to the merger between Sumitomo Bank and Sakura Bank on April 1st 2001 to form Sumitomo Mitsui Banking Corporation, there were three entities within the Sumitomo Derivative Products Group, Sumitomo Bank Capital Markets, Inc., SBCM Limited and SBCM Derivative Products Limited. There are three entities in the merged group, SMBC Capital Markets, Inc. (formed by the merger of Sumitomo Bank Capital Markets, Inc. and Sakura Global Capital, Inc.), SMBC Capital Markets Limited (formerly SBCM Limited) and SMBC Derivative Products Limited (formerly SBCM Derivative Products).
Sumitomo Bank Capital Markets, Inc. was approved as a swaps dealer in 1989, becoming the first subsidiary of a Japanese commercial bank to begin trading swaps on a portfolio basis. With the formation of the new Derivative Products Group, SMBC Capital Markets has reaffirmed its commitment to act as a principal market maker for interest rate swaps and currency derivatives.
SMBC Capital Markets Limited (headquartered in London) acts as an agent for SMBC Capital Markets Inc., entering into interest rate and currency swap and option transactions with counterparties in Europe, Africa and The Middle East on behalf of SMBC Capital Markets. SMBC Capital Markets Limited operates a branch office in Hong Kong which also acts as agent for SMBC Capital Markets Inc. in Asia and the Pacific Rim.
Both SMBC Capital Markets Inc. and SMBC Capital Markets Limited are wholly-owned subsidiaries of Sumitomo Mitsui Banking Corporation (Japan).
Sumitomo Bank Capital Markets, Inc. was approved as a swaps dealer in 1989, becoming the first subsidiary of a Japanese commercial bank to begin trading swaps on a portfolio basis. With the formation of the new Derivative Products Group, SMBC Capital Markets has reaffirmed its commitment to act as a principal market maker for interest rate swaps and currency derivatives.
SMBC Capital Markets Limited (headquartered in London) acts as an agent for SMBC Capital Markets Inc., entering into interest rate and currency swap and option transactions with counterparties in Europe, Africa and The Middle East on behalf of SMBC Capital Markets. SMBC Capital Markets Limited operates a branch office in Hong Kong which also acts as agent for SMBC Capital Markets Inc. in Asia and the Pacific Rim.
Both SMBC Capital Markets Inc. and SMBC Capital Markets Limited are wholly-owned subsidiaries of Sumitomo Mitsui Banking Corporation (Japan).
