Derivs - Equity

Rabobank is working with Sarasin Group to launch bespoke indices that would mimic the performance of the Swiss private bank’s sustainability funds.

Merrill Lynch made another round of cuts in Asia approximately two weeks ago, impacting its equity derivatives division.

Mike McBain, head of global debt markets overseeing structured products for RBC Capital Markets in Toronto left the firm April 3.

Barclays Capital has been fielding requests from pension funds, insurance companies and private banks who want to offset long exposure to hedge funds via swaps, options and structured notes tied to its short synthetic hedge fund index.

More and more over-the-counter equity options are being confirmed electronically and equity swaps next in line, according to Chip Carver, co-head of trade processing at Markit in New York.

Insurers are considering entering into total return swaps instead of options to hedge annuity payout benefits.

Morgan Stanley is recommending investors buy one-year puts on healthcare stocks as the industry is expected to come under greater government scrutiny.

Société Générale has been pitching a retail structured product known as a call cap that officials say has grown in favor in the past few months.

Société Générale is positioning itself for lighter flows in over-the-counter equity derivatives and to that end has hired Brian Hennen as a salesman in listed options flow sales in New York.

Kevin Woodruff, head of North American equity derivatives for Morgan Stanley in New York, has been appointed global head of financial engineering and will relocate to London next week to fully assume the role.

Banks in Asia who use international accounting standards may have to wait at least nine months from now before any change in valuing illiquid products becomes law

Traders of over-the-counter derivatives and issuers of structured products need to have a firm-wide way of valuing and pricing those instruments to maintain transparency and bring confidence back to the market.