The rise of single-stock ETFs, especially CSOP's 2x leveraged SK Hynix ETF listed in Hong Kong, is reshaping market dynamics. The daily rebalancing of these massive funds is contributing to higher volatility in equity markets, creating new challenges for investors. At the same time, high concentration risk and narrow market leadership are fundamentally changing how investors think about hedging.

In this special episode, featuring an excerpt recorded at the Singapore Volatility Forum on June 3, Oliver Chan, portfolio manager at Capula Investment Management; Stephane Martin, APAC head of derivatives institutional sales at Optiver; and Ivan Nurminsky, portfolio manager at Dymon, join Bloomberg News' Lianting Tu to discuss the hidden risks and opportunities in today's derivatives markets, including the surging popularity of the dispersion trade.

To listen to the full recording of the Forum beyond this excerpt, including the opening speech by Bloomberg Intelligence chief global derivatives strategist Tanvir Sandhu on multi-asset volatility strategy and more, please click on the link to our sister podcast, FICC Focus. We hope you enjoy this episode.

Apple Podcasts: https://podcasts.apple.com/us/podcast/all-options-considered-volatility-forum-singapore-2026/id1589459799?i=1000773012810

Spotify: https://open.spotify.com/episode/4bRLGabkpuzCdg1xxCCUGP

Bloomberg Terminal: {NSN TGQJMKKJH6V8 <GO>}

The rise of single-stock ETFs, especially CSOP's 2x leveraged SK Hynix ETF listed in Hong Kong, is reshaping market dynamics. The daily rebalancing of these massive funds is contributing to higher volatility in equity markets, creating new challenges for investors. At the same time, high concentration risk and narrow market leadership are fundamentally changing how investors think about hedging.
In this special episode, featuring an excerpt recorded at the Singapore Volatility Forum on June 3, Oliver Chan, portfolio manager at Capula Investment Management; Stephane Martin, APAC head of derivatives institutional sales at Optiver; and Ivan Nurminsky, portfolio manager at Dymon, join Bloomberg News' Lianting Tu to discuss the hidden risks and opportunities in today's derivatives markets, including the surging popularity of the dispersion trade.
To listen to the full recording of the Forum beyond this excerpt, including the opening speech by Bloomberg Intelligence chief global derivatives strategist Tanvir Sandhu on multi-asset volatility strategy and more, please click on the link to our sister podcast, FICC Focus. We hope you enjoy this episode. Apple Podcasts:&nbsp;<a href="https://podcasts.apple.com/us/podcast/all-options-considered-volatility-forum-singapore-2026/id1589459799?i=1000773012810" data-destination="rte:bind">https://podcasts.apple.com/us/podcast/all-options-considered-volatility-forum-singapore-2026/id1589459799?i=1000773012810</a> Spotify: <a href="https://open.spotify.com/episode/4bRLGabkpuzCdg1xxCCUGP" data-destination="rte:bind">https://open.spotify.com/episode/4bRLGabkpuzCdg1xxCCUGP</a>
Bloomberg Terminal: {NSN TGQJMKKJH6V8 &lt;GO&gt;}

Some of the world's largest and fastest-growing markets, economies and companies are in Asia. Every Thursday, John Lee from Bloomberg Intelligence speaks with experts and newsmakers about the big ideas and trends moving money across the region.

Some of the world's largest and fastest-growing markets, economies and companies are in Asia. Every Thursday, John Lee from Bloomberg Intelligence speaks with experts and newsmakers about the big ideas and trends moving money across the region.

Asia Centric by Bloomberg Intelligence

How Leverage ETFs Are Shaking Up Asian Markets

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/f38cedeb-c8a3-4d9f-bf8a-b473007fae8d/transcript