Jane Street Becomes a Dealer on Leveraged ETF Swaps

Jane Street joins other dealers as a market maker on risky leveraged ETF swaps.

An ETF swap, also known as a synthetic ETF, is where the provider enters into a swap contract with a counterparty, typically a large financial institution, to replicate the performance of an index, asset or asset class, without owning the underlying securities.

The counterparty pays the ETF the total return of the index (or other asset) including dividends while the ETF pays a fee and the return of collateral to the counterparty.

HSBC Winding up Investment Banking in Europe

HSBC is winding down M&A and equities in the UK, Europe and Americas, accelerating a move to cut costs and a shift to Asia, led by CEO Georges Elhedery (appointed September 2024, and who holds a postgraduate qualification in Statistics and Economics from ENSAE). HSBC will keep debt capital markets and leveraged acquisition finance globally.

Big Block Trades Signal Sell-Off Linked to Family Office Archegos run by Bill Hwang

An approximate $30bn of block trades executed through GS, MS and Deutsche Bank is believed to be linked to family office of Bill Hwang. Tencent, Baidu and GSX (Chinese EdTech) were among the names sold. Bill previously founded and managed Tiger Asia Management in 2001 converting his fund into a family office in 2013, following insider trading charges in 2012.

Nikkei Dives 4.5% After US Stimulus Boost

Index volatility was constant at 48% down from a high of 60%.

How are Markets doing YTD 2019 (as of 13 July 2019)?

S&P 500 is up 500 points from the start of the year (+20%) [2510, 3013]
SX5E is also up 500 points from the start of they year, though lower percentage gain (+17%) [2993,3497].
DAX which closely follows SX5E is up 1743 points, again a lower percentage gain (+16%) [10580, 12323].
GSCI is up 15% but it was impacted by a late May sell off followed by recovery. [377,434].

Under BladeLogic Founder Dev's Leadership, Mongo DB Stock is Up 200%, Market Cap 8.7bn

Mongo DB (NASDAQ:MDB) stock is up 200% year to date, from $52 to $157. Its current CEO, Dev Ittycheria, co-founded BladeLogic and sold the company to BMC for a whopping $900m. BladeLogic has since been re-branded to TrueSight.