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  • The Reserve Bank of India’s tough rules governing the new credit default swaps market could hurt growth of the CDS market, according to Ajay Mahajan, managing director and head of financial markets at UBS.
  • UBS is said to be hiring bankers and traders to its fixed-income group, which has been by several departures recently.
  • UBS is said to be considering moving its investment-banking unit outside Switzerland to meet demands from regulators to separate the business.
  • The Swedish bank SEB has joined the Singapore Exchange as a clearing and trading member, effective immediately.
  • India should have a local over-the-counter derivative trade repository, despite arguments from the industry for global trade repositories, according to the Reserve Bank of India’s working group on reporting of OTC interest rate and fx derivatives.
  • BNP Paribas has hired Sam Shi as sales director of greater China for asset owners and asset managers, which will incorporate derivatives products.