Cantor Fitzgerald I-Rate Derivatives Head Still Missing

Gopal Varadhan, managing director of the interest-rate derivatives group in New York, was still unaccounted for Thursday, according to company officials. Varadhan reported to Harry Fry, senior managing director in New York. Fry is reportedly safe and accounted for, according to the official. Fry and Varadhan worked on the 105^th floor of the North Tower of the World Trade Center. Varadhan, previously president of an Internet company, joined the broker in early August to build Cantor's interest-rate derivatives team in expectation of the swaps curve replacing the Treasury yield curve as the fixed income market's benchmark (DW, 8/13).