Derivs - Equity

BNP Paribas wants to expand its equity derivatives capabilities in Asia in response to increasing use by pension funds and sovereign wealth funds in Southeast Asia over the last six months.

Market jitters appear to have faded for now, but banks are seeing more interest in retail structured products that offer downside protection alongside enhanced returns.

An equity version of the International Swaps and Derivatives Association’s Credit Determinations Committee is due to be discussed at ISDA’s upcoming equity steering committee meeting in two weeks.

Hedge funds and asset managers have been selling three-month puts on U.S. and European financial names this week, driven by the decline in volatility triggered by better-than-expected results from Goldman Sachs and JPMorgan Chase.

Nikki Tippins, a managing director in structured products at JPMorgan, has left and is tipped to land at Morgan Stanley.

The Securities and Exchange Commission and Commodity Futures Trading Commission have reportedly decided which parts of the over-the-counter derivatives market each will oversee, with the SEC getting jurisdiction over credit default swaps and equity derivatives.

Ciaran O’Kelly, the former head of global equities at Bank of America, has joined Nomura Securities International as head of its U.S. equity division in New York.

Francois Louvet, head of delta one trading at Barclays Capital in London, has left the firm.

Anurag Jodhawat, a v.p in equity derivatives trading at Commerzbank in London, has joined Merrill Lynch as head of emerging markets equity derivatives trading.

Société Générale is recommending a volatility play on U.S. banks that have repaid TARP money to take advantage of huge amount of warrants the government may have to sell on the open market.

Remi Colinmaire, an ex-managing director in equity index trading at Goldman Sachs in London, who according to headhunters made in the region of USD4 million a year and around USD1 billion for Goldman during his four years at the firm, is starting his own hedge fund.

Macro Risk Advisors is recommending option plays that capitalize on the volatility spread between technology companies that sell mostly to consumers and those that sell to corporations.