Derivs - Equity

UBS and Merrill Lynch are among a slew of firms building out corporate equity derivatives sales teams in Europe to cope with the increasing demand from corporates for collars and volatility and delta-one instruments.

Richard Carson, the former global head of equity derivatives trading and sales at Deutsche Bank in London, is forming an asset management firm.

Macquarie Securities Group has made a series of equity management changes to its Australian business as part of its plans to integrate derivatives into cash equity.

Lukas Klein, the former head of single stock equity derivatives trading at Barclays Capital in London, is reportedly set to join Morgan Stanley.

Credit Suisse has begun marketing EUR350 million (USD459 million) in 12-year structured notes with returns linked to the Man Investments Directional EUR Index Series 2 index. Structured product officials said it is the largest structured notes offering to both retail and institutional investors in the last few months.

Dick Lo, head of single stock exotics trading for Asia ex-Japan at Deutsche Bank, left the firm in the last week.

Steve Milke, head of structured products for RBC Capital Markets in New York, has resigned. Separately, the firm recently hired Donald Dye as a managing director in New York.

UBS has reportedly hired Lambda Li from Deutsche Bank in a new equity derivatives structuring slot in Hong Kong.

Jefferies equity derivatives strategists are recommending a bullish call spread on what they called underperforming Monsanto Company stock to capture the view that the underperforming stock will rebound or stabilize soon.

Hedge fund managers are turning to equity swaps as a way of getting exposure to cash underlyings that now require more reporting to tax authorities around the globe.

The U.S. Senate Financial Reform Bill may be some way from becoming law, but that hasn’t stopped attorneys from scouring every clause, looking for a loophole.

The Commodity Futures Trading Commission has yet to approve a request, filed in January, from the Chicago Mercantile Exchange to begin trading futures on the S&P 500 Dividend Index.