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Even though volatility risks in euro/dollar options are as high as before the Federal Open Market Committee meeting, medium term gains based on the currencies reaching parity and a strengthening dollar make buying calls with a focus on upside euro convexity a viable trade, according to strategists.

At its March meeting, the US Federal Reserve began winding down its policy of extreme transparency and forward guidance, pushing market participants to rely now on economic data instead of qualitative nudges from the central bank.

One investor was seen buying a sizeable number of put options on the PowerShares DB US Dollar Index Bullish exchange-traded fund this week, indicating that they are seeking to mitigate exposure to the US dollar if its performance slows down or weakens, according to strategists.

Emmanuel Girod, the ex-co-head of Europe, the Middle East and Africa equity-linked trading at Bank of America Merrill Lynch in London, is set to join Citigroup, also based in London.

US buysiders are struggling to access overseas liquidity as many dealers do not want to trade with US clients due to regulations, such as Dodd-Frank, resulting in increased fragmentation and smaller liquidity pools.

It’s that time of the year again when CDS market participants turn their attention to technical, rather than fundamental, factors.

Clifford Davis, managing director institutional equity derivatives sales at BNP Paribas in New York has left the firm.

Market participants trading non-centrally cleared swaps have been given a reprieve as proposals from regulators regarding rules for initial and variation requirements have been delayed.

US buysiders are struggling to access overseas liquidity as many dealers do not want to trade with US clients due to regulations such as Dodd-Frank, resulting in increased fragmentation and smaller liquidity pools.

The People’s Bank of China (PBoC) has set an initial timetable for the launch of China’s Cross-border Inter-bank Payment System (CIPS), according two sources close to the matter. GlobalRMB understands seven international banks — ANZ, BNP Paribas, Citi, DBS, Deutsche Bank, HSBC, Standard Chartered — are among the 19 firms selected for first stage testing.

Investors were buying puts and put spreads on real estate investment trusts ahead of the Federal Reserve Open Market Committee announcement on Wednesday (March 18), as such sectors are sensitive to interest rates so are prime targets for options hedging.

The decision to add 25 constituents to the iTraxx Crossover in September was a mistake, as it hasn’t increased the trading volume of single name credit default swaps as expected, according to market makers.