Option users move beyond equity indexes to commodity and FX ETFs in search of cheaper, sharper hedging tools
https://www.risk.net/investing/7959091/zero-day-hedging-takes-root-in-new-asset-classes
Dmitry Pugachevsky, Quantifi, discusses the emergence of the CVA swaps market
https://www.risk.net/insight/markets/7958988/cva-swaps-a-new-type-of-capital-relief-trade
Societe Generale and Risk.net held the ninth edition of their annual flagship Derivatives Conference in the iconic SG Towers at La Défense. Usually hosted in London, the event was co-sponsored...
US mutual funds have amassed record notionals in Treasury futures that in some cases exceed their AUM
https://www.risk.net/investing/7958617/the-unknown-risk-on-the-flip-side-of-the-basis-trade
Counterparty Radar: French bank ousts Bank of America to lead the table for the first time
https://www.risk.net/investing/derivatives/7958560/bnp-takes-top-forwards-spot-with-us-mutuals
Firms are capping exposures to avoid a rerun of 2018’s ‘Volmageddon’ unwind
Minimum AUM for customised hedging slashed from around £400m to £75m
https://www.risk.net/investing/7957868/asset-managers-offer-tailored-ldi-to-smaller-pension-schemes
Counterparty Radar: BlackRock, Franklin Templeton and T Rowe Price among the managers who added to single-stock positions
Buy-side firms have to pay up if they want to post corporate bonds to their dealers, but prices vary
https://www.risk.net/derivatives/7957475/like-your-csa-dirty-itll-cost-more
Counterparty Radar: French dealer grew its repurchase book by 65% in first quarter
https://www.risk.net/investing/derivatives/7957391/pimco-powers-bnp-paribas-to-top-of-repo-rankings
Counterparty Radar: Aggregate notional drops 27% in Q1 as Pimco unwinds more swaps
Counterparty Radar: US life insurer inflation swaps market doubles in Q1 on back of Manulife-owned firm’s expansion
https://www.risk.net/investing/derivatives/7957295/john-hancock-life-loads-on-inflation-hedges
Dealer Rankings 2023: Analysis of millions of trades reveals big fish – and small ones – in 10 derivatives instruments
https://www.risk.net/derivatives/7957102/meet-the-sharks-stroke-the-rays-in-hidden-otc-ecosystem
Dealer Rankings 2023: We have a simple way to compare dealers. Sort of simple, anyway
https://www.risk.net/derivatives/7957110/cuts-and-points-how-the-dealer-rankings-work
Dealer Rankings 2023: Three US banks are consistently top 10; none are consistently top five
https://www.risk.net/derivatives/7957098/in-age-of-constraints-top-dealers-pick-their-battles
Dealer Rankings 2023: For buy-side firms, the list of banks you can trade with depends on who you are
https://www.risk.net/derivatives/7957097/same-instrument-different-market
Dealer Rankings 2023: Analysis of more than 1,000 cuts of Counterparty Radar data offers rare glimpse of sell-side pecking order
https://www.risk.net/derivatives/7957012/jp-morgan-morgan-stanley-top-risks-first-dealer-rankings
Counterparty Radar: US mutual funds, ETFs shed $2.7 billion in options notional during Q4
Counterparty Radar: US retail funds cut $1.5 billion in sold swap positions over the quarter
Counterparty Radar: Western Asset slashed inflation bets in Q4 as Empower probes new frontiers
Counterparty Radar: Manager activity in Q3 2022 lowest in nearly three years; BofA surpasses JP Morgan as top dealer
https://www.risk.net/investing/derivatives/7955797/us-retail-funds-slash-repo-borrowing
Counterparty Radar: US mutual funds added exposure to sector in Q3
https://www.risk.net/investing/derivatives/7955702/simplify-bursts-into-equity-index-options-lead
Counterparty Radar: Manager cut 70% of its position in Q3 as space shed roughly $174 billion in holdings
Counterparty Radar: Morgan Stanley retains top dealer spot in single-name CDS trades for mutual funds
https://www.risk.net/investing/7955558/pimco-leads-sovereign-cds-expansion-as-pgim-cuts-corporates
Counterparty Radar: Nomura cements position as leading foreign-owned dealer in the space
Counterparty Radar: Manager’s reduction tanks JPM’s market share with sector
https://www.risk.net/derivatives/7955490/morgan-stanley-im-slashes-fx-options-book
Counterparty Radar: US mutual funds added $7.8bn of bought protection, growing sector to $169bn in Q3
https://www.risk.net/derivatives/7955551/capital-group-pimco-lead-tilt-to-bought-index-cdss
Counterparty Radar: Barclays benefits from manager’s Q3 portfolio changes
https://www.risk.net/derivatives/7955489/pgim-pares-back-long-bond-options-bets
Counterparty Radar: Volumes dropped to new lows in Q3 as price expectations cooled
https://www.risk.net/derivatives/7955475/us-mutual-funds-abandon-inflation-swaps
Growing mismatch between one- and three-month tenors slashes payouts by a third
https://www.risk.net/investing/7955312/clo-equity-investors-stung-by-libor-basis
SEC’s clearing proposals may hurt levered basis trades and worsen illiquidity in off-the-run bonds
https://www.risk.net/investing/7955081/relative-value-trades-face-treasury-clearing-squeeze
Counterparty Radar: Goldman Sachs moves to top dealer spot for non-cleared trades
Counterparty Radar: Pimco’s book surpassed $40 billion in Q2, growing to half of mutual fund space
Counterparty Radar: Cash borrowing fell to lowest level since 2020; JP Morgan remains top dealer
Counterparty Radar: US mutual funds cut $2bn in single-name swaps in Q2, making largest reductions in SSA trades
Counterparty Radar: Space shrinks 30% in Q2 following three consecutive quarters of growth
Counterparty Radar: US mutual fund managers cut $4.3 billion in individual equity options
Counterparty Radar: Morgan Stanley added market share, but Goldman stayed top among dealers
https://www.risk.net/derivatives/7954507/pgim-increases-credit-hedges-as-funds-add-bought-index-cdss
Counterparty Radar: Japanese bank triples size of US mutual funds book despite market contraction
https://www.risk.net/derivatives/7954498/nomuras-swaptions-volume-jumps-in-q2-on-pimco-trades
Counterparty Radar: US mutual funds cut $15.4 billion from their books in Q2 2022
Counterparty Radar: Morgan Stanley slips for first time since Q2 2021 amid wider volume decline
Counterparty Radar: Market contracted by $3.9 billion as US managers decreased sold calls
Counterparty Radar: New data shows wide variation in haircuts, with biggest clients – like BlackRock and Pimco – getting best terms
Counterparty Radar: S&P 500 puts and calls grow 10% in Q1
Counterparty Radar: Volumes down 44% as Pimco slashes positions; Western Asset and JP Morgan buck the trend
https://www.risk.net/investing/derivatives/7951326/us-mutual-funds-retreat-from-inflation-hedges
Counterparty Radar: Pimco, Ice increase market share as volumes decline
Counterparty Radar: US funds grow CDX NA HY positions by $7.2 billion in Q1
Counterparty Radar: US mutual funds flock to G10 currency trades as macro conditions worsen
Counterparty Radar: Manager pares $13bn of USD/RMB trades, deals blow to BNP’s market share
Counterparty Radar: Goldman maintains commanding share of dealer business as space hits new record high
https://www.risk.net/investing/derivatives/7950666/citi-dominates-mutual-funds-q1-swaption-expansion