In the Press
SuperDerivatives is recognised as a world-leader in the derivatives marketplace, and as such is often called upon to provide informed comment for respected publications across the globe. A selection of recent articles can be browsed below.
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The Source | 20-Feb-12
The Evolution of OIS Discounting
With the fall of Bear Stearns and Lehman Brothers and the near collapse of the worldwide banking system, dealers and users of derivatives are paying far more attention to the counterparty credit risk inherent in any OTC derivative transaction. Bob Emerson, Head of Interest Rate Derivatives, SuperDerivatives
The Evolution of OIS Discounting
With the fall of Bear Stearns and Lehman Brothers and the near collapse of the worldwide banking system, dealers and users of derivatives are paying far more attention to the counterparty credit risk inherent in any OTC derivative transaction. Bob Emerson, Head of Interest Rate Derivatives, SuperDerivatives
FX-MM | 10-Feb-12
Next Generation Electronic Options Trading
According to Stephen Baker, Head of EMEA Sales and Support at SD: “DCX provides, on one screen, multiple quotes for FX options from multiple marketmakers, delivering a dynamic depth of market.” The new trading platform is anonymous from both sides – both the buyers and the dealers presenting the options’ pricing.
Next Generation Electronic Options Trading
According to Stephen Baker, Head of EMEA Sales and Support at SD: “DCX provides, on one screen, multiple quotes for FX options from multiple marketmakers, delivering a dynamic depth of market.” The new trading platform is anonymous from both sides – both the buyers and the dealers presenting the options’ pricing.
Reuters | 08-Feb-12
Simple options thrive in risky world - SuperDerivatives
The collapse of Lehman Brothers - the largest bankruptcy in U.S. history which left the bank facing billions of dollars in derivatives claims - has burnt many investors, choking off demand for more complex options, according to Mikael Benguigui, Head of Equities at SuperDerivatives... "The market has changed completely. Banks are not willing to take on risk. There is a general consensus in the market now to avoid going into too-complex, too-exotic options," Benguigui said.
Simple options thrive in risky world - SuperDerivatives
The collapse of Lehman Brothers - the largest bankruptcy in U.S. history which left the bank facing billions of dollars in derivatives claims - has burnt many investors, choking off demand for more complex options, according to Mikael Benguigui, Head of Equities at SuperDerivatives... "The market has changed completely. Banks are not willing to take on risk. There is a general consensus in the market now to avoid going into too-complex, too-exotic options," Benguigui said.
Markets Media | 09-Jan-12
Do CCPs Concentrate Risk?
The concept of concentration is the cause of potential systematic risk, no matter what the capital requirements are,” Zohar Hod, vice president and Head of the Americas for SuperDerivatives, told Markets Media.“When you consolidate risk that was previously part of a bilateral transaction you incur more systematic risk,” Hod said.
Do CCPs Concentrate Risk?
The concept of concentration is the cause of potential systematic risk, no matter what the capital requirements are,” Zohar Hod, vice president and Head of the Americas for SuperDerivatives, told Markets Media.“When you consolidate risk that was previously part of a bilateral transaction you incur more systematic risk,” Hod said.
Wall Street Letter | 04-Jan-12
Market Structure, Technology Vendors Develop Cloud- Accessible SEFS to Minimize Costs
Integral and SuperDerivatives are among vendors that are developing swap execution facilities (SEFs) that will be accessible through cloud infrastructure to minimize hardware and technology costs.SuperDerivatives is also developing a SEF on a cloud for FX contracts, according to Zohar Hod, Vice President and Head of the Americas. “We’re talking about a new generation of traders and algorithms being adapted to trade in SEFs,” Hod said. “I’d rather start with a cloud based [SEF] and scale up, rather than adopt what the market is comfortable with now and then be stuck.”
Market Structure, Technology Vendors Develop Cloud- Accessible SEFS to Minimize Costs
Integral and SuperDerivatives are among vendors that are developing swap execution facilities (SEFs) that will be accessible through cloud infrastructure to minimize hardware and technology costs.SuperDerivatives is also developing a SEF on a cloud for FX contracts, according to Zohar Hod, Vice President and Head of the Americas. “We’re talking about a new generation of traders and algorithms being adapted to trade in SEFs,” Hod said. “I’d rather start with a cloud based [SEF] and scale up, rather than adopt what the market is comfortable with now and then be stuck.”
e-ForeX | 01-Jan-12
Transparency, Flexibility and Liquidity - Redefining Standards in Electronic FX Options
“The real time aspects of trading FX options, the ability to execute on a multi-dealer platform, the ability to reduce operational risk and enhance the workflow electronically and finally the delivery of these platforms over a cloud is where I see the future going and where I see the changes in the market coming.” Zohar Hod, VP Americas at SuperDerivatives
Transparency, Flexibility and Liquidity - Redefining Standards in Electronic FX Options
“The real time aspects of trading FX options, the ability to execute on a multi-dealer platform, the ability to reduce operational risk and enhance the workflow electronically and finally the delivery of these platforms over a cloud is where I see the future going and where I see the changes in the market coming.” Zohar Hod, VP Americas at SuperDerivatives
FX-MM | 01-Jan-12
Stepping Up to the Mark, Cover Interview with Oren Cohanoff, Head of Corporate Solutions at SuperDerivatives
“The spreads are much wider than they used to be and corporates need tools to negotiate better with their banks, to lower costs and see the full picture of the corporation.” Oren Cohanoff, Head of Corporate Solutions at SuperDerivatives."There will be an inevitable requirement for corporate treasuries to move to real-time under the pressure to improve transparency and management reporting abilities."
Stepping Up to the Mark, Cover Interview with Oren Cohanoff, Head of Corporate Solutions at SuperDerivatives
“The spreads are much wider than they used to be and corporates need tools to negotiate better with their banks, to lower costs and see the full picture of the corporation.” Oren Cohanoff, Head of Corporate Solutions at SuperDerivatives."There will be an inevitable requirement for corporate treasuries to move to real-time under the pressure to improve transparency and management reporting abilities."
Treasurer Magazine | 13-Dec-11
Volatility – The Treasurer’s New Best Friend?
"While widely-reported risk aversion in the interbank market has characterised 2011, away from the headlines, corporate treasurers are quietly becoming more active in the derivatives markets. Why? Severe volatility has proven extremely testing for banks and investors, but corporates have also felt the effects and have had to dramatically adapt their hedging strategies and level of activity to deal with rapidly changing market conditions, particularly those with exposure to currencies and commodities." By Oren Cohanoff, Head of Corporate Solutions at SuperDerivatives
Volatility – The Treasurer’s New Best Friend?
"While widely-reported risk aversion in the interbank market has characterised 2011, away from the headlines, corporate treasurers are quietly becoming more active in the derivatives markets. Why? Severe volatility has proven extremely testing for banks and investors, but corporates have also felt the effects and have had to dramatically adapt their hedging strategies and level of activity to deal with rapidly changing market conditions, particularly those with exposure to currencies and commodities." By Oren Cohanoff, Head of Corporate Solutions at SuperDerivatives
Markets Media | 05-Dec-11
Swaps Users Up in Arms
Zohar Hod, vice president and Head of the Americas at SuperDerivatives, told Markets Media, “If the regulators impose these margin and collateral rules they will kill a section of the markets that allowed non- speculative participants to responsibly hedge their exposures.”
Swaps Users Up in Arms
Zohar Hod, vice president and Head of the Americas at SuperDerivatives, told Markets Media, “If the regulators impose these margin and collateral rules they will kill a section of the markets that allowed non- speculative participants to responsibly hedge their exposures.”
The Wall Street Journal | 02-Dec-11
What If a Clearing House Failed?
SuperDerivatives Zohar Hod, Vice President and Head of the Americas,comments: "the problems will also be compounded as more assets are being mandated to clear centrally so not only IRS but also FX Options might be centrally cleared and increase the clearing house exposure. One more alarming issue is the strength of the Euro Zone. If the Euro Zone collapses, new multi currencies systems would be needed to manage risk on these disparate economies."
What If a Clearing House Failed?
SuperDerivatives Zohar Hod, Vice President and Head of the Americas,comments: "the problems will also be compounded as more assets are being mandated to clear centrally so not only IRS but also FX Options might be centrally cleared and increase the clearing house exposure. One more alarming issue is the strength of the Euro Zone. If the Euro Zone collapses, new multi currencies systems would be needed to manage risk on these disparate economies."
