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Investment banks have recently been selling complex derivative products, in large sizes, to unsuspecting widows and orphans.

Investors have been unwinding bearish positions on the euro following successful Greek negotiations which has led to an unexpected stabilisation of the single currency and a decrease in volatility.

Increases in FX volatility have the potential to erode returns and raise portfolio-level volatility in international multi-asset portfolios, therefore investors are looking at using FX forwards and options as a hedge to generate superior risk-adjusted returns.

Chris Rhodes, ex-partner and senior trader at proprietary trading firm Arc Derivatives based in London, has joined ICE Futures Europe as head of interest rates, also based in London. He joins the firm in a newly created role.

Chris Concannon, president of BATS Global Markets, has been appointed as CEO replacing Joe Ratterman.

Jacques Aigrain, chairman of LCH.Clearnet Group Limited and LCH.Clearnet Ltd. based in London, is stepping down and will be succeeded by Lex Hoogduin, current board member who is based in Amsterdam.

Market participants have been looking at picking up forward rate agreements (FRAs) on the South African rand on the back of continued disinflationary pressures and monetary policy decisions by the South African Reserve Bank (Sarb).

Magnus Bocker, CEO of the Singapore Exchange will leave the firm at the end of June this year.

Overall interest rate derivatives trading that was reported to swap data repositories last week only decreased by 1% from the previous week, according to data from the International Swaps and Derivatives Association.

Liquidity in the FX options market is being hampered as bid-ask spreads on implied volatility widen, despite a rise in volatility and overall trading volumes, which has unexpectedly resulted in increased options premiums.

Hedge funds seeking alpha have been buying calls on technology and healthcare single stocks on the back of increased cash inflows and corporate share buybacks. This call buying has been hedged with puts on the S&P 500, according to traders.

GFI Group’s board of directors have unanimously agreed to support BGC Partners’ tender offer for all its outstanding stock at $6.10 per share in cash concluding the hostile takeover that BGC initiated last year. This came following the merger agreement that was made between CME Group and GFI in July, which led to a bidding war between the exchange and BGC.