Index Variance Option Trading Picks Up

Options on equity index variance, pioneered toward the end of last year, are now traded as frequently as once a fortnight, according to hedge fund managers.

  • 25 Feb 2005
Email a colleague
Request a PDF

Options on equity index variance, pioneered toward the end of last year, are now traded as frequently as once a fortnight, according to hedge fund managers. The trades, initially executed by Bank of America and Citigroup (DW, 10/1), are now being offered by several other derivatives houses including SG Corporate & Investment Banking, Credit Suisse First Boston and Deutsche Bank.

One fund manager said the growth of the variance swaps market (DW, 5/2) indicates the potential appetite for options on variance. Michael Wexler, fund manager at Maple Leaf Capital in London, noted most variance swap players are speculators, so options on variance are appealing instruments to fund managers already familiar with equity variance as an underlying.

  • 25 Feb 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Mar 2017
1 JPMorgan 94,925.33 384 8.39%
2 Citi 87,531.58 331 7.74%
3 Bank of America Merrill Lynch 84,341.49 288 7.46%
4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 May 2017
1 Deutsche Bank 19,381.65 47 8.82%
2 Bank of America Merrill Lynch 18,968.25 36 8.63%
3 HSBC 18,103.95 50 8.24%
4 BNP Paribas 8,911.57 55 4.05%
5 SG Corporate & Investment Banking 8,885.00 54 4.04%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 May 2017
1 JPMorgan 8,369.56 33 8.53%
2 UBS 8,282.28 33 8.44%
3 Citi 6,605.58 44 6.74%
4 Goldman Sachs 6,444.85 31 6.57%
5 Bank of America Merrill Lynch 6,215.31 24 6.34%