​Daily Bulletin: Thursday April 30

The listed flow markets were a little slow today as broad-based indices declined. The NASDAQ was down 1.64% to 4,941.42, while the S&P 500 retreated 1.01% down to 2,085.51. SPY, and EWJ saw decent option flow, while Pfizer and GM were also call option targets in single stock trading. In the U.S., we take a look at potential impacts on the SEC’s latest proposed cross border rules. Foreign counterparties in the equity total return swaps market could look to shun the U.S. in a bid to skirt swap dealer registration requirements. In our latest buyside commentary Julien Messias, deputy managing director and risk manager, Uncia Asset Management, talks about how to actively manage an equity portfolio during earnings season.