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
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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
  • 24 Jul 2017
1 Citi 253,106.92 930 8.89%
2 JPMorgan 230,914.50 1036 8.11%
3 Bank of America Merrill Lynch 221,389.46 762 7.78%
4 Goldman Sachs 171,499.26 554 6.03%
5 Barclays 169,046.60 646 5.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 25,935.16 104 7.16%
2 Deutsche Bank 25,125.19 81 6.94%
3 Bank of America Merrill Lynch 22,023.57 59 6.08%
4 BNP Paribas 19,315.94 110 5.34%
5 Credit Agricole CIB 18,706.93 106 5.17%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 JPMorgan 12,578.87 55 8.17%
2 Citi 11,338.07 71 7.36%
3 UBS 10,682.06 44 6.93%
4 Goldman Sachs 10,419.53 53 6.76%
5 Morgan Stanley 10,194.88 57 6.62%