NEW YORK, May 24 (Reuters) - Trading in emerging market credit default swaps jumped 21.1 percent to $488 billion in the first quarter of 2018 from $403 billion in the same quarter a year earlier, a survey released on Thursday showed.
Trading in emerging market CDS jumped 77.5 percent from the previous quarter’s $275 billion, according to a survey from EMTA, the emerging markets debt-trading and investment industry trade association.
Brazilian CDS were the most traded last quarter at $51 billion, followed closely by those of China at $47 billion and Turkey at $37 billion.
Among corporate CDS contracts, Brazil’s state-controlled energy giant Petrobras lead in volume with approximately $2.7 billion.
EMTA’s survey includes trading volumes from 12 major international banks and broker-dealers on emerging market CDS contracts from 21 countries and nine corporate issuers.
Reporting by Rodrigo Campos Editing by Nick Zieminski