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Japanese firm plucks banker from UBS
The Americas derivatives community came together in New York to recognise and celebrate outstanding achievements across the industry
The derivatives market gathered in London on Thursday night to celebrate its leading players
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Investors in Asia are selling six-month convexity on regional indices, including the Nikkei at 3.40 vol, and using the trade to fund the acquisition of put spreads on a range of other Asian indices.
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Société Générale is advising investors to buy notional USD10 million six-month U.S. dollar/Canadian dollar calls and sell 143 lots of six-month WTI crude oil puts on the basis that correlation between oil and USD/CAD has peaked.
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Swap dealers will be able to determine whether a counterparty has the appropriate knowledge and soundness to enter into a swap agreement, according to a draft of business conduct protocols circulated by the International Swaps and Derivatives Association. -
Ten years ago, the execution of a listed option order might have gone something like this: Client: “I’d like to buy 1,000 MSFT January 2003 30 strike calls, delta neutral.” The dealer would then call each of the four exchanges at the time (AMEX, CBOE, PCX, and the PHLX) and ask the market maker on each floor to quote the market. Five minutes later, the dealer would call each exchange back, scribble down each market (most them would make the bid/ask spread about a dime wide), sum up the number of options at each quoted price, and then transact on the exchanges that gave the “best” price until 1,000 options had been purchased for the customer.
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The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission both acted on derivatives regulations on Thursday.
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Daiwa Capital Markets is shifting its business to target its home market of Japan.
