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New contracts cannot yet be traded in US
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  • U.S. corporate end-users should be exempt from over-the-counter derivatives regulations because they need customized maturities and collateral arrangements, according to Scott Morrison, president of the National Association of Corporate Treasurers.
  • Some U.K. banks are refraining from hiring traders, salespeople and structurers before April 5 to avoid a tax on the stock portion of bonuses new recruits earned at their existing shops.
  • Daiwa Capital Markets has hired Edouard Hoepffner in a new role heading up structuring for Asia ex-Japan.
  • The Securities Commission Malaysia is set to tweak its definition of what constitutes a sophisticated investor.
  • The Senate Agriculture Committee is reportedly moving forward apace with derivatives reform with members exchanging language for a draft bill, just as one is expected to be released imminently by Sen. Chris Dodd (D-Conn.), chairman of the Senate Banking Committee.
  • Goldman Sachs has defended the cross-currency derivatives it completed for Greece in 2001, noting they were consistent with European Union rules at the time.