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JP Morgan and Dutch pension fund PGGM transacted derivatives margin trade
◆ Chinese bank treasury shift from USTs to dollar callables considered ◆ Some European SSAs face cross-currency limitations ◆ Previous market staple 'almost non-existent'
Bank intermediaries eye resurgence in profitable trades
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Hedge funds and credit valuation adjustment desks are taking profit on a 10-year basis trade between cash and credit default swaps on Italian government bonds.
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Liquidity in the FX options market is being hampered as bid-ask spreads on implied volatility widen, despite a rise in volatility and overall trading volumes, which has unexpectedly resulted in increased options premiums.
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Asset managers are selling credit default swaps on the iTraxx Senior Financials index and buying CDS on iTraxx Main in relative value trades that play both the Greece settlement and diverging moves in interest rates.
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Hedge funds seeking alpha have been buying calls on technology and healthcare single stocks on the back of increased cash inflows and corporate share buybacks. This call buying has been hedged with puts on the S&P 500, according to traders.
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GFI Group’s board of directors have unanimously agreed to support BGC Partners’ tender offer for all its outstanding stock at $6.10 per share in cash concluding the hostile takeover that BGC initiated last year. This came following the merger agreement that was made between CME Group and GFI in July, which led to a bidding war between the exchange and BGC.
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The public dissemination of swap transaction trade data in Ontario is raising fears that trades will be linked to specific firms, thus influencing transaction pricing and making it difficult for firms to hedge their risk, according to lawyers.