Daiwa to acquire KBC’s convertible bonds and Asian equity derivatives businessesDaiwa Capital Markets will acquire the global convertible bonds and Asian equity derivatives businesses of Belgium’s KBC Group. The cost will be about $1bn, including about $200m for staff, IT infrastructure and other assets, and about $800m for the trading positions.The move is part of Daiwa’s strategy to build an Asia-based global derivatives business. The unit is based in Hong Kong and is a market maker in listed Hong Kong warrants. It also issues equity-linked notes and over-the-counter derivatives based on Asian companies’ equity. The acquisition is...