​Daily Wrap – Korean’s Changing Autocallable Market; SocGen Director Joins MRA

The Korean autocallables market is a behemoth that moves the region’s volatility and skew profile, as issuers are forced to cover their exposure with the purchase of downside puts. But the Korean regulator is looking at shifting the market’s use of the HSCEI, wanting greater diversification in retail investments and dealers’ books. Meanwhile in the U.S., Jerry Hammerschmidt, former equity derivatives director at Société Générale in New York, is set to join Macro Risk Advisors in mid-November.