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近期ESG期權交易量突破了紀錄
瑞典銀行(Swedbank Robur)再一次做到了!
斯堪的納維亞半島最大的資產管理公司之一,瑞典銀行擁有涵蓋所有主要地區,行業和資產類別的投資基金。 1250億歐元中的400億歐元已經配置在與ESG相關的(環境,社會和治理)基金中,並且這一比例正在迅速增加。
在當前的展期交易中,Robur與Barclays進行了產品間轉換,由STOXX Europe 600轉移到了STOXX Europe 600 ESG-X指數,該指數在STOXX Europe 600指數基礎上進行了ESG篩選。
STOXX Europe 600ESG-X指數衍生產品已成為歐交所最成功且具有流動性的ESG衍生產品之一。並推出了以該指數為標的的全球首個ESG期權,最近交易了看漲期權。名義交易額為5.4億歐元,是迄今為止最大的一筆交易。截至週一,STOXX Europe 600 ESG-X衍生品的未平倉頭寸超過12億歐元。基於ESG排除法的ESG-X指數和衍生品,具有相似的市場表現,且追踪誤差較低。
瑞典銀行衍生品高級交易員Magnus Linder表示:“我們一直在不斷努力整合可持續發展問題以及以ESG視角貫穿我們整個業務,為此我們已經做了多年工作。 ESG衍生產品為我們提供了另一金融工具,使我們能夠了解,減緩和應對不必要的可持續發展風險,並創建超額回報(alpha)。”
“追溯到2019年,需要讓賣方相信去交易和定價ESG衍生產品。但現在對ESG金融工具(尤其是ESG期權)的興趣已經非常強烈了。在交易之前,我們與巴克萊銀行進行了性能分析,將市場基準指數與ESG指數進行了比較。顯然,在大多數情況下,ESG的回報較高且波動率較低。因此,我們決定在隱含波動率較高時賣出基準指數的看跌期權,並在隱含波動率較低時買入ESG指數的看漲期權,從而有利於整個倉位。巴克萊( Barclays)服務台為這筆相當大的交易定價,支持了該交易,並提供了ESG期權以前無法預見的流動性。” Linder補充說。
巴克萊北歐股票衍生品銷售部的Kim Berg表示:“我們注意到北歐客戶,特別是瑞典銀行是所ESG上市領域的早期採用者和領導者。即使是在該地區以外的地區,主要來自歐洲大陸以及英國,今年對ESG產品的興趣也大大提高了。通過此次交易,我們希望為投資者提供對ESG期權當前流動性狀況的信心–如果可以的話,我們希望從這裡崛起。”
“這項交易證明了巴克萊銀行是如何預測我們的客戶將轉向ESG產品。我們已在基礎架構上進行了大量投資,以在整個產品套件中提供與ESG相關的解決方案,包括Flow產品,Exotics ,Delta-1和QIS策略。” EMEA股票流動衍生產品銷售主管Andreas Konomis補充道。
執行該交易的歐洲主管Yohann Freoa表示:“從交易的角度來看,我們的觀點是,流動性將為這一系列產品帶來額外的流動性,通過這項交易,我們希望可以展現出大規模交易這些指數的可能的,”。
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