Derivs - Equity

Société Générale sold timer call options on gold this week to several institutional clients.

A number of issuers in Europe have begun marketing structured products linked to Glencore International. The wave comes just a week after the company raised USD10 billion in the largest initial public offering this year.

The Financial Services Authority is expanding its reporting requirements for on-exchange derivative transactions that would increase the costs of technology for dealers, according to lawyers.

Australia and New Zealand Banking Group is looking to expand its equity derivatives presence in Asia.

Barclays Capital has issued bespoke, three-year structured notes that combine two proprietary commodities indices with a knock-in trigger of 40%.

JPMorgan has hired Daniel Benchimol, a senior portfolio manager at Capstone Investment Advisors in New York, as managing director in equity derivatives trading for the Americas also in New York.

Clariden Leu has begun marketing tracker certificates linked to a basket of 15 stocks which are seen as potential takeover targets over the next three years.

Arthur Braga, a senior equity exotics and fund derivatives trader at Barclays Capital in London, has joined Goldman Sachs as a Latin American equity derivatives trader in New York.

One hedge fund bought USD35 thousand vega notional on a variance spread this week by shorting the S&P 500 exchange traded fund, the Materials SPDR ETF and going long XLB underlying U.S. Steel.

U.S. investors are taking positions in two different camps.

Citigroup has hired two equity derivative salesmen in New York. Paul Koo joins in the third week of June as head of delta one sales for the Americas and international equity derivatives.

Steven Phan, global head of HSBC’s investments, access and solutions group in London, has left the firm.