Derivs - Equity

Chiehmi Chan, a senior equity derivatives trader at Citigroup in London, left the firm last week.

JPMorgan has sold one and is offering two more structured products with participation rates partly determined by volatility overlay factors based on the firm’s Strategic Volatility Index.

With the continued uncertainty, markets remain very jittery with daily swings continuing to be very high compared to the past behaviour of indices.

Citigroup has cut three in its equity derivatives group: Adrian Jones, a v.p., Camellia Lowry, a director, and Amrish Pattni, whose title could not be gleaned.

Threadneedle Investments has rolled out the Threadneedle (Lux) U.K. Equities Fund, managed by Simon Brazier, head of U.K. equities at the firm.

Issuers in Asia are offering bespoke autocallable structured products to high-net-worth individuals as a way of restructuring poor performing cash equity positions via vanilla at-the-money put options.

Nick Fuller, the co-head of equity single stocks trading at Royal Bank of Scotland in London, has joined Santander in a similar role also in London.

Strategists at Barclays Capital have combined an analysis of tail beta, or the expected return of an underlying relative to the financial market as a whole, with a ratio of put prices to pinpoint inexpensive yet effective tail risk strategies for equity and credit portfolios.

Clearing is among the top concerns for financial end users, according to Luke Zubrod, director of regulatory compliance services at Kennett Square, Pa.-based risk advisory firm Chatham Financial.

Interest in derivatives trading of exchange-traded fund underliers referencing Brazil has increased over the past few days after the Brazilian government repealed a 2% tax on foreign investors trading the country’s equities and a 1.5% tax on American Depositary Receipts.

The European Securities and Markets Authority along with national regulators should be given the appropriate resources and powers to enforce the requirements outlined in the updated Markets in Financial Instruments Directive, according to Jean-Pierre Jouyet, chairman of the Autorité des Marchés Financiers.

Barclays Capital in Hong Kong has hired Abhijeet Neogy, an ex-equity derivatives trader at Bank of America-Merrill Lynch in New York.