Derivs - Credit

Liz Hogan, co-head of fixed income, currencies, and commodities for the Americas at Société Générale in New York, has left the firm.

Noteholders in the stalled Dutch residential mortgage-backed securities EMAC 2004-I have voted to pursue legal action against CMIS Nederland, the pass-through provider.

A pickup in listed call option volume on fixed income exchange-traded funds has spurred some market participants to suggest that a handful of fixed income ETFs represent better plays than equity strategies, despite equities being cheap relative to bonds.

HSBC has appointed Asif Godall as head of European credit trading in London, according to a memo.

The International Swaps & Derivatives Association is arguing central clearing parties should not be able to make intraday margin calls to collect collateral from clearing members. That view runs counter to the current thrust of the Committee on Payment and Settlement Systems and International Organization of Securities Commissions, which is about to issue a set of principles that will cover the issue.

­Members of the European parliament are undecided over the makeup of a potential E.U. financial transaction tax and whether it would benefit or damage the economy.

Morgan Stanley is recommending buying payer options on the Markit iTraxx Europe Crossover with a March expiry at 675 basis points and selling payer options at 800 bps to hedge near-term risk events, like Greece’s scheduled March 20 bond payment.

Credit Agricole Corporate and Investment Bank named Frederic Truchot as head of fixed income markets for Americas as of Feb. 2, replacing Francois Deroche, who has been promoted to senior regional officer for the Americas region and U.S. senior country officer.

Revenue from fixed income, commodities and fx is expected to fall 30% at European banks when they issue their earnings reports this week and 20% at U.S. banks in 2011, according to Société Générale’s Cross-Asset Research team.

Sal Naro, a former co-head of global fixed income at UBS, has launched Coherence Capital Partners, a fixed-income boutique based in New York.

Société Générale Corporate & Investment Banking has named Inès de Dinechin to succeed the departing Laurent Seyer as ceo of Lyxor Asset Management.

Clearing of over-the-counter interest rate swaps via Singapore Exchange’s central clearing counterparty DerivativesClear rose in January for the first time in three months to SGD12.92 billion (USD10.34), from SGD1.26 billion (USD1.01) in December.