​Weekly: Eyes On FOMC As Rate Hike Delayed; Funds Rank Asia Liquidity Providers

Sep 18, 2015

With all eyes on the FOMC meeting this week, trading for good or bad, was dominated by the prospect of a rate hike. In the lead up to the meeting, open interest in VIX puts reduced by about 4 million, while trading in the OTC markets was constrained. VXX positioning also showed investors were de-risking heavily ahead of the event. Meanwhile in single stocks, Bank of America saw call option flow Wednesday, with one investor selling 30,000 weekly contracts targeting a USD16.5 price for 10c. The play came the day before the FOMC announced its decision. In the people and firms section, BNP is expanding in New York, while Michael Schmanske, one of the chief designers of the VXX, has joined BGC Capital. Manulife Asset Management has also made a key hire as the firm gears up to launch a series of funds. Don’t miss this week’s latest research findings. Hedge funds view Société Générale, BNP Paribas, UBS, Goldman Sachs and HSBC as offering the best liquidity on vanilla Asia underlying derivatives.

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