Equity markets
Institutions overtake retail structured product investors as dominant source of Japan equity option flow
The recent rise in Japan’s equity markets have seen macro hedge funds and asset managers overtake the retail structured product investors as the dominant source of flow on Nikkei and Topix options
Rabobank pulls plug on equity derivatives business
Bank has not decided whether to sell its book to other dealers
Thai equity derivatives market to double
Demand from corporate and private bank investors to drive growth in Thai structured product market
NZX to launch equity derivatives market
New Zealand Stock Exchange to launch equity derivatives to meet demand for hedging instruments
Viva Las Vega: Japan banks take advantage of volatility play
Viva Las Vega!
Uridashi losses put at $500 million after Nikkei rebounds
When the Nikkei slumped last May, banks were forced to sell volatility to protect positions built up through the sale of uridashi products – leaving many with losses. A rally in the index at the end of the year inflicted further pain. In total, the…
Chinese equity derivatives master agreement close to being finalised
Securities firms in China have begun trading OTC equity derivatives, with a final master agreement expected soon
French transaction tax loophole could prompt tougher European regimes
A twist in the tale for artful dodgers
Italian budget vote brings equity derivatives tax closer
Watered down proposals include equity derivatives to avoid creating loophole, experts say
Nomura to reboot Korea ELWs with Hong Kong product launch
Korean retail investors will be able to access Kospi 200 warrants without the barriers to entry that exist in the Korean market
The beta stochastic volatility model
The beta stochastic volatility model
Korea ELW crackdown leaves traders unhedged
Dealers are left unable to hedge ELS positions as liquidity dries up in Korea’s warrant market
Sponsored statement: Ito33
Which model for equity derivatives?
China prepares for launch of cross-border ETF market
In the tightly regulated Chinese economy, the launch of ETFs linked to overseas shares marks a new form of investment vehicle available to mainland investors. However, challenges still remain due to structural differences in Chinese manufactured ETFs
RBS cash equities exit could hike hedging costs
RBS will have to pay more to hedge vega from its equity derivatives business after losing offsets provided by cash, rivals say
Korean regulator seeks further crackdown on ELW market
Financial Services Commission considers restrictions on liquidity providers to cool down Korean warrant market
Asian institutional investors take aggressive stance on volatility
Taking on the tail
Brics to cross-list equity derivatives via new alliance
A new ‘Brics exchanges alliance’ has been formed to allow investors to trade equity index derivatives of each participating exchange in local currencies. The move comes as Asian exchanges increasingly are establishing alliances to promote cross-border…
Dealers tout dividends despite slide
The recent collapse in the value of dividends is a reminder of painful 2008 losses for dealers – but the industry says long positions will make money in any scenario short of catastrophe. Mark Pengelly reports
South African tax ruling may just be stay of execution, brokers warned
Stay of execution?
Filling the gaps
Filling the gaps
A-share ETF investors to face higher tracking error due to SFC collateral rule change
A new rule from the securities regulator, effective September 12, means some Hong Kong-listed A-share ETFs will have to fully collateralise counterparty risk exposure from their P-note issuers. The move could cause existing investors to rethink their…
Daiwa makes cutbacks to derivatives team
Japanese bank loses senior derivatives personnel across Asian and London offices; blames Japan earthquake and market uncertainty