Derivs - Credit

China’s National Association of Financial Market Institutional Investors is looking to bolster the creation of new credit risk management products via a new financial derivatives professional committee.

The cheap implied volatility in bund futures, and the expectation that it will cheapen further, is fuelling interest in straddle calendar spreads.

Knight Capital Group has hired Ana Concejero, a former head of Latin America and Iberia capital markets at BlackRock, as managing director in listed derivative sales for Europe, the Middle East and Africa in London.

Sovereign spreads managed to hang on to most of their gains after the June 28-29 summit, though the rally lacked conviction.

Issuers in Australia are growing their structured products desks to tap changing investor appetite for fixed-income products.

Sovereigns, such as central governments, sovereign wealth funds, central banks and other supranational institutions, are expected to embrace central clearing voluntarily and post collateral to bilateral commercial counterparties due to the indirect impact of regulation on bilateral derivatives pricing, according to a report on over-the counter derivatives reform by BNY Mellon.

Georges Assi, managing director and deputy global head of fixed income at Nomura in London, resigned yesterday.

Investment bankers in Europe are in a for another wave of layoffs less than a year after the first round amid a nine-year low of fees from mergers and securities underwriting during the current crisis.

The global fixed-income exchange traded fund market is expected to grow from its current USD302 billion to more than USD2 trillion over the next decade, according to BlackRock’s iShares.

The U.S. Commodity Futures Trading Commission and Securities and Exchange Commission have today finalized definitions of a swap, a securities-based swap, a securities-based agreement and a mixed swap.

JP Morgan has hired Shaun Barlow, managing director of European Union credit trading at Goldman Sachs in London. He will join in a similar role.

Areski Iberrakene, the former global head of equity derivatives at Dresdner Kleinwort, is in the early stages of preparing to launch a hedge fund in London, called Areski Capital.