​Daily Wrap – Appetite To Go Long RDXUSD; Breier Joins Neuberger Berman

In today’s coverage, we speak with senior equity derivatives officials at UBS on why strategies that sell knock-in puts to fund calls or geared call spreads in RDXUSD appear attractive. In People & Firms in Europe, we report on BBVA hiring Harvey White to a new role in London as it seeks to strengthen its equity derivatives sales coverage. In the U.S., meanwhile, Neuberger Berman has hired Max Breier, an ex-equity derivatives trader at BMO Capital Markets in New York, as head derivatives strategist. In our market roundup, we summarise Wells Fargo’s quarterly results and recent changes in UBS’ Americas equities division.