Merrill Lynch increased a staggering 422%, versus the same period last year, taking the number one spot with $9.24 billion of CDO product placed. In fact, Merrill doubled its nearest competitor and accounted for 17.8% of the market. Through the first three quarters of 2003, Merrill ranked seventh with $1.8 billion issued.
Citigroup Global Markets scored second place with approximately $4.6 billion under its belt or 8.9% of the market, more than doubling the amount it racked up same time last year, when it had sold $2.2 billion. But Citigroup heads into the fourth quarter with a seemingly insurmountable $4.6 billion of ground to make up.