Florian Ielpo

From shifting volatility regimes in index and single-stock options to sector-specific rotations, macro policy catalysts, and cross-asset correlations, 2025 has tested the equity derivatives market. This talk will dissect recent behaviour in listed and OTC products, highlight the structural dislocations that have shaped liquidity and pricing, and flag the macro, geopolitical, and earnings-driven catalysts most likely to define the year ahead. Expect insights on how volatility surfaces are evolving across regions, where market participants are finding - or losing- liquidity, and how global macro forces are driving flow dynamics in equity derivatives.

This session will explore how practitioners are putting derivatives strategies into practice in today’s market. Speakers will discuss the decision-making process between listed and OTC products, how execution choices are shaped by margin requirements, UMR implications, and product availability, and the use of tactical vs strategic overlays around macro events, earnings, and geopolitical shifts. Expect practitioner-led insights on real-world use cases, the execution tools desks are relying on, and how trading and investment teams are working together to deploy derivatives effectively.