 Awards for Excellence 2010 |
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| Best Global equity derivatives house: BNP Paribas | |
| Also nominated: Société Générale and JPMorgan |
As equity markets reeled at the height of the European sovereign crisis in May, volatility spiked through the roof. Ten-day volatility on the Dow Jones Eurostoxx 50 index rocketed from a March low of 10.47 to a peak of 71.71 on May 14. Several media reports suggested that large losses had been incurred at banks and hedge funds, which had been short variance and correlation products in the run-up to those huge market moves.
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