“所有新产品最终将告别高利润率，变成标准化、低利润率且有望实现大规模交易的业务，”某最大衍生品交易商的一位高管表示。

"All new products eventually stop being high-margin and become standardised, low-margin, and hopefully high-volume, businesses," said an executive at one of the biggest derivatives dealers.

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美国股市昨日下挫，标准普尔500指数终止了连续三个交易日上涨的势头，外界担忧欧洲主权债务危机蔓延，美国联邦监管机构对对冲基金进行清查，展开大规模内幕交易调查。

U. S. stocks declined yesterday, snapping a three-day gain for the S&P 500, amid concern about Europe's sovereign debt and as federal agents raided hedge funds to probe insider trading.

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亚洲第一笔掉期交易价值不到1亿港元(合1300万美元)，以全球标准衡量规模较小。

The inaugural transaction in Asia, at less than HK$100m ($13m), is small by global standards.

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