Derivs - People and Markets

Jeremie Honvault, an ex-portfolio manager at BNP Paribas in London, has joined StoneHedge Partners, the London-based interdealer broker and advisory firm.

Hedge funds, pension funds and insurance companies are increasingly favouring equity derivatives rather than fixed income products as they seek upside exposure or protection in the current low volatility environment.

The Australian Securities Exchange is planning to offer futures referencing its volatility index, known as the S&P/ ASX 200 VIX, in the second half of 2013, with options referencing the futures to follow.

Brevan Howard has continued its interest rates hiring push with the appointment of Mark Deniston from Goldman Sachs in London.

The turnover of structured products traded on European stock exchanges in Q4 of 2012 declined by 13.4% versus Q3 2012 and 21.9% year-on-year, according to the latest quarterly report from the European Structured Investment Products Association.

Carolina Minio-Paluello, head of equity and private investor solutions for Europe, the Middle East and Africa at Citigroup in London, has left.

The International Swaps and Derivatives Association has called on the Committee on Payment and Settlement Systems and the International Organization of Securities Commissions to create and publish a list of Qualifying Central Counterparties or compliant regimes.

Private banking investors in Europe are buying structured products on the Vstoxx in an effort to increase yield in the current low interest rate market.

Regulators in Europe are making a greater effort in involving structured product industry associations in regulation and legislation, according to speakers at the 10th annual StructuredRetailProducts.com conference in London today.

Some market participants are refraining from doing business with counterparties in particular jurisdictions and some banks are shifting operations back to their domestic markets due to a lack of regulatory certainty and global harmonization.

Brevan Howard has tapped another interest rates sellsider with the hire of Claire McCathie from JPMorgan in London.

Giovanni De Bustis Figarola, an ex-senior equity derivatives trader at Nomura in London, has joined London-based interdealer broker Forte Securities as a director in a new role.