Wall Street Letter Volume XLV Issue 16 - Page 4

NEWS is also looking at expanding its derivatives offerings later this year, he added. Speaking on the sidelines of the Options Industry STEVE CRUTCHFIELD Conference in Las executive vice Vegas last month, president, head of US options, NYSE Crutchfield said Euronext the NYSE will invite institutional investors to the exchange for an educational session. NYSE will hold an invite-only seminar at the exchange in which it expects between 150-200 institutional investors from pension funds, endowments and other similar participants to learn from industry vets on how to use derivatives not only as a hedge, but also to generate income. “Who wouldn’t want to use a covered call to generate income on their portfolio?” Crutchfield asked, further explaining that properly educating hesitant institutional investors is the best way to increase participation in the options markets. NYSE held a similar meeting last year for about 150 participants, Crutchfield noted. The exchange will also begin reaching out to market participants for feedback on potential new derivatives offerings, he added. Citing the success of VIX and VIX derivatives on the Chicago Board Options Exchange, Crutchfield said NYSE would likely look to a similar type of product. Though he would not commit to a firm timeline for the introduction of the new products, he confirmed the exchange will begin communicating and planning with participants by the end of the year. DATA Bond markets at a turning point The bond market is at a crossroad of rising demand and dwindling sell-side inventories, as well as being on the precipice of electronification, according to a report authored by David Weiss, analyst for Aite Group. Sell-side bond inventories are declining as a result of increasing PEOPLE MOVES 04 BNP Paribas promotes securities lending exec BNP Paribas has hired Lance Wargo to serve in the role of head of securities lending, North America. Wargo takes on his new role after a 13-year career at Wells Fargo & Company in Short Hills, NJ, where he was most recently the head of trading and investments for securities lending. In his new role, which is also a new position at BNP Paribas, Wargo will lead a team of six as the bank prepares to launch US securities lending with a focus on agency lending. Wargo, who will be based in New York, will report to Christina Feicht, head of Market and Financing Services in North America, and John Arnesen, global head of securities lending based in London. Quadron poaches tech exec Quadron Data Solutions has hired Richard Theony as senior vice president of product management. Theony will head up integrations, product direction and broker-dealer relationship He joins from COR Clearing where he was senior vice president of operations. OneMarketData adds to senior ranks OneMarketData, a New York-based tick data management and market development. Banker will focus on product innovation and expansion of current business lines. He joins from Interactive Data, where he was an executive vice president. OCC appoints directors The Options Clearing Corporation has announced new additions to its board of directors. Felix Davidson, president at TD Ameritrade Clearin ???I???????M?????????????????????????????????????????? ?????M?????????? ????5??????????????????????????????????????????????????????????????? ???????9??e???5????????????????????????????????????()5????5????????????????)5????5????????????????????????????????M????????????????????????????????????? ???????1???????M????????%$?????????M???????????????% 4?I?????????????????????????????????????()9??????Q?????????!????-??????)9??????Q???????????????? ????=??????????????????()A????? ??????????A4)A????? ??????????????)???????????????????????????????????????????????????????????????????????????????????????????????????????????????????9??????Q??????????????????????????????????????????I??((0