Derivs - Credit

Hong Kong regulators want to mandate that all locally-incorporated financial institutions report all OTC derivatives trades to the coming local trade repository in Hong Kong.

The key to growth in the structured product market this year will be broker participation, according to attendees at the Structured Products Association Conference in New York today.

Benoit Savoret, the former coo of Lehman Brothers for Europe, the Middle East and Africa, has joined Nomura today as joint head of global equities in London, in a reshuffle of the firm’s wholesale business.

Nine of the 61 positions the Hong Kong Securities and Futures Commission hopes to add this fiscal year will be focused on structured products or derivatives, according to a budget presented to the Hong Kong Legislative Council on Monday morning.

Leveraged funds and real money investors are approaching dealers for trades that allow them to capture the upside from the basis between the Hong Kong-based reniminbi market (CNH) and the onshore renminbi market (CNY).

Nomura International has hired Khushal Thakur as a trader in London focusing on Iberian financial credits, primarily credit default swaps.

Pierre Rousseau, global head of equities and commodities derivatives and ceo of BNP Paribas Securities Asia in Hong Kong, speaks to Derivatives Week on the firm's plans to expand in equity derivatives and structured products in the region.

The credit markets, like their equity counterparts, have been firmly focused on the oil price last week.

The National Futures Association has hired Edward Dasso, most recently of the InterContinental Exchange, to head up surveillance of swap execution facilities.

Pacific Investment Management Co. plans to launch a new fund called the Tail Risk Hedging Fund 2, according to a senior firm official at the firm.

Market participants should support efforts by the Securities and Exchange Commission and Financial Industry Regulatory Authority to implement consolidated audit trails for futures and options trading, said William Brodsky, ceo of Chicago Board Options Exchange at the exchange’s Risk Management Conference in Dana Point, Calif., earlier this week.

HSBC has hired Haider Ali, head of European credit index trading at Citigroup, to lead European credit index trading in London.