Peaks and greeks

Cover story

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At a time when bringing up the word 'derivatives' in conversation can cause many investors in Asia to shift uncomfortably in their seats, offering a breed of investment and hedging strategies that centre on 'greeks' that even some of the world's foremost traders have failed to fully understand, might seem like a hard sell.

But that is exactly what equity derivatives dealers in Asia are doing. They say they can package volatility in new shapes and forms that will appeal both to real money investo