Derivs - Credit

The Japan Financial Services Agency plans to push regulators in the U.S., Europe and other regions to move forward with the implementation of mandatory clearing of over-the-counter derivatives.

Scottish Widows Investment Partnership has hired two investment-grade credit analysts to work in its high-yield team in New York as part plans to build out U.S. operations.

The International Swaps and Derivatives Association has written the Commodity Futures Trading Commission a letter saying that the forwards exclusion requirements under Dodd-Frank are too strict.

Janney Capital Markets has hired Kevin Roche and Jeff Miller as managing directors as part of its move into structured product underwriting and origination.

The Hong Kong Exchange plans to roll out client clearing within six-to-nine months after its clearinghouse Over-The-Counter Clear Hong Kong begins operations with interdealer trades.

Investors should buy five-year senior credit default swaps and five-year subordinated CDS on Deutsche Bank on the view that the firm is trading too tight in the market compared to its peers, according to Société Générale.

Derivative.com, the Zurich-based multi-dealer structured product platform, has begun offering discount certificates.

Local Japanese financial institutions are diversifying away from U.S. counterparties when entering into swaps contracts in a bid to sidestep or delay registration as a major swap dealer with the U.S. Commodity Futures Trading Commission, according to market participants.

ICAP and Rapid Ratings have jointly launched a service to provide data for the credit derivatives market on an end of day basis on entities in the Eurozone.

John Thang, managing director and co-head of fixed income sales, North East Asia, at Standard Chartered in Hong Kong, will be moving to a similar position at ANZ.

Sovereigns, and the credit market as a whole, remain in limbo while Spain’s fate is uncertain.

LCH. Clearnet has launched its SwapClear Consultancy Certification Program which will certify consulting firms to advise end-users about OTC derivatives clearing.