US dividend futures top $6bn on structured note boom
Traders also eye opportunities in options on S&P dividends as April rout creates skew dislocations
The US dividend futures market is rapidly catching up with its more established European counterpart, as surging structured products volumes fuel issuer demand for dividend hedges, while hedge funds bet on a long-term lift in payouts by US tech giants.
Open interest in CME-listed S&P 500 dividend futures currently stands at 367,000 contracts, up a third from two years ago. Over the same period
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