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Derivatives

Tong Resigns From Merrill

Howard Tong, director of global equity markets at Merrill Lynch in Hong Kong, resigned two weeks ago. Market officials said Tong, who focused on equity derivatives marketing for Hong Kong and Taiwan primarily covering warrants, is looking to take a break from the industry. Tong could not be reached for comment.

Tong reported to Brent Clapacs, managing director and head of global markets at Merrill in Hong Kong. Clapacs did not return calls.

One market official noted that with Merrill merging its cash and equity desk at the end of last year, its likely that Tong's duties will be absorbed by the existing team.

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