Funds Tag SG, BNP, UBS, GS & HSBC As Top For Asia Liquidity

Hedge funds view Société Générale, BNP Paribas, UBS, Goldman Sachs and HSBC as offering the best liquidity on vanilla Asia underlying derivatives, according to initial findings from EQDerivatives’ Equity & Volatility Derivatives 2015 market-mapping project. Portfolio managers complain of inconsistent liquidity from desks outside the quintet. Liquidity in light exotic trades such as volatility or variance swaps involving an Asia index, however, is consistent among the vast majority of banks, the managers have told EQDerivatives in a series of interviews.