​Tuesday, June 23 – VSTOXX Draws Hedging; SEC Doubles Down On ETN Concerns

VSTOXX options have seen an uptick in average daily volume this month, with liquidity now reaching a point allowing dealers to execute trades in larger size. The liquidity is coinciding with a greater need for European-specific hedges, according to market participants. In the U.S., the SEC’s latest request for comment letter on the ETN market seems to be rehashing a sweep letter it published last year. Market participants, by and large already self-regulating, should still pay attention to protect against damaging regulations being implemented. In the people and firms section, Winton Capital Management has hired the ex-head of fund structuring—JPMorgan Structured Funds, to a senior position in investment solutions, based in London.