​Daily Wrap - Market Mapping Platform Launched; Alternative Mutual Fund Offered

In today’s coverage, we report on investors showing a greater willingness to buy vol in three-month to five-month tenors, particularly through calendars in the HSCEI. The trades would largely avoid the selling pressure coming from exotic desks in longer-dated maturities, and are attractive from a carry perspective given the inverted term structure. Elsewhere, Los Angeles-based TCW Group has partnered with Gargoyle Investment Advisor to launch its first alternative mutual fund, the TCW | Gargoyle Hedged Value Fund. Also, an ex-equity derivatives salesperson at Deutsche Bank in London, has joined Barclays in a similar position, also in London.