Options business booming

LONDON -- Banks are expanding FX options teams in London and Asia in response to increased interest in derivatives from clients, officials have told FX Week.

Increased sophistication of corporate clients coupled with European firms’ need to protect exposures as the dollar has weakened is driving the trend in Europe. While in Asia, a boom in risk appetite is fuelling expansion.

"Corporates’ use of options is going up," said Ivan Ritossa, global head of FX at Barclays Capital in London, which i