Derivs - Equity

ETF Securities has hired Frank Spiteri, a former senior equity derivatives trader at KBC Financial Products, as head of retail distribution.

The Securities Association of China, a Beijing-based capital markets self-regulatory organization, is creating a standard master agreement in preparation for the launch of China’s first onshore OTC equity derivative market (DI, 9/3).

Eli Vichman, the former head of emerging markets equity derivatives trading at the Royal Bank of Scotland in London, has joined London hedge fund Holland Park Capital.

Daniel Palmer, global head of corporate equity derivatives and vice chairman of capital markets at Morgan Stanley in London, has left the firm.

Approaches to applying prudent valuation requirements to trading positions, set out by the European Banking Authority under the draft capital requirements regulation, are unnecessarily prescriptive and formulaic, according to a number of trade associations.

Hedge fund investors are scrambling to take upside exposure to the China A and H-share market, buying calls and call spreads on the FTSE China A-Share exchange traded fund, the CSI 300 and the HSCEI.

The International Swaps and Derivatives Association, together with members in Japan and the Asia Pacific, are looking to update the equity Master Confirmation Agreements for index variance equity swaps used across the region.

UBS is planning to expand a range of novel reverse convertible structured products it offers to investors in Switzerland with more equity underlyings.

The Singapore Exchange is looking at clearing Asian over-the-counter equity derivatives via its clearinghouse. It already clears some interest rate and commodity deals.

Makram Fares, the ex- co-head of European equity sales and equity derivatives at Nomura in London, is set to launch his own interdealer broker and advisory firm.

DBS Bank in Hong Kong is prepping a non-principal protected daily accrual structured product referencing a basket of stocks, set for launch next month.

Hedge funds are buying short-dated calls and calendar call spreads on the VIX in an effort to profit on any spike related to the debt ceiling negotiations in the U.S.