Raymond Wong, managing director of global equity markets at Merrill Lynch in Hong Kong, relocated to Tokyo two weeks ago in a similar position handling equity derivatives trading and structuring for the Japanese market. Wong confirmed the move, declining further comment. He is thought to be replacing Ajay Soni, who has taken a new role in London (see story, page 1). James Rodríguez de Castro, managing director of global equity markets in Hong Kong, will assume Wong's responsibilities in addition to his own. De Castro declined comment.