Derivs - Equity

The five main interdealer brokers, ICAP, GFI Group, BGC Partners, Tradition and Tullett Prebon, have formed a group called the Wholesale Market Brokers’ Association Americas, which met for the first time today to discuss its mission statement and a forthcoming Web site.

Jean-Philippe Lecourt, the former global head of equity derivatives trading at Bank of America, has landed at Deutsche Bank, which is rebuilding its equity derivatives trading desk in New York.

Morgan Stanley is advising institutional investors who missed out on the technology sector’s strong performance this year to buy July 2010 tech stock calls and sell shorter-dated ones as a low-cost way to take advantage of an expected rebound in IT investment next year.

Luke Newman-Taylor, a director in equity derivatives trading at Barclays Capital in London, left the firm last week and is reportedly set to rejoin UBS.

Robert Gregorio, a managing director in equity derivatives sales at Hapoalim Securities in New York, recently left to join FTN Equity Capital Markets.

Standard & Poor’s has expanded its custom index services from equities to incorporate commodities and fixed income.

Reverse stress testing—the process by which firms try and account for potential shocks to their portfolios by addressing specific peculiarities—is becoming more common, according to Ron Papanek, head of RiskMetrics Group’s labs unit in New York.

Amit Jagtiani, a v.p. in single stock equity derivatives trading at Dresdner Kleinwort in London, has left. He is set to join Deutsche Bank, according to a DB spokeswoman.

Mathieu Bernard, head of emerging markets equity derivatives trading at Morgan Stanley in London, is set to join Nomura in a similar position but one which is new for the firm.

Deutsche Bank has added Benoit Perrot in index flow trading for Asia ex-Japan.

Patrick Hayes, a senior v.p. in equity sales at Jefferies, has joined New York-based equity advisory boutique CJI Capital Markets as a director in institutional sales.

American Bankers Association-founded financial data company CUSIP Global Services is considering launching a numbering system for U.S. over-the-counter equity options after rolling out the identifiers for listed options on Tuesday.