NPD losses force wind down

New angles

NIBC Petercam Derivatives (NPD), the Belgium-based equity derivatives specialist, has been forced to close its business after racking up millions of euros in trading losses on its portfolio of exotic equity options. The losses – which could exceed €60 million, according to some estimates – were caused by a failure to properly price the decline in equity implied volatilities over the past 18 months.

NDP clients such as Fortis Investment Management, Dexia Asset Management and KBC Asset Managem

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: