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U.S.-based asset manager Gemini Investment Strategies, which recently launched a convertible arbitrage and special situations fund, is considering employing over-the-counter derivatives to hedge the portfolio.
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AXA Life Insurance (Japan), which has over JPY382 trillion (USD3.59 billion) in assets, is studying trading equity-default swaps for its Tokyo-based equity department for the first time.
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Credit Suisse First Boston has retooled its Hong Kong-based equity desk on the back of a recent transfer to New York.
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Two equity derivatives traders in Merrill Lynch's proprietary trading group in New York have left the desk.
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Derivative players in Asia are beginning to revisit contingency plans in the face of the widening breakout of avian flu.
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Sophisticated volatility arbitrage hedge funds have started to research statistical volatility arbitrage as the next big money making strategy.
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Implied volatility in the short-end of the euro/dollar curve continued to rise last week as a bearish view on the U.S. dollar dominated foreign exchange plays. -
The U.S. securities laws prohibit underwriters from selling shares into the public market without the issuer registering the sale under the Securities Act of 1933 or obtaining an exemption from the Securities Act's registration requirements.
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Brian Grover, executive v.p. in equity derivatives sales at KBC Financial Products in New York, has quit the firm to launch an executive search and capital raising startup.
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JPMorgan has launched capital commitment services for its portfolio trading equities desk and recruited Andrew Bieler, managing director and head of U.S. program trading at Goldman Sachs in New York, to the new position of head of execution for portfolio trading.
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U.S. issuers of inflation-linked bonds are expected to pile into the interest rate swap market this year to offset their exposure to inflation.
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Five-year credit-default swap spreads on hotel group Accor widened 30 basis points last week even though the group's annual revenue reports were in line with market expectations.
