Derivs - Credit

U.S. Commodity Futures Trading Commission has been hiring staff to write new regulations since last fall and is ready to draft them.

UBS has reportedly lured Justin Yang and Ben Jones from Citigroup and Goldman Sachs, respectively, to become co-heads of credit sales for Asia Pacific.

The type of counterparty dealers face may account for split view among dealers in a Federal Reserve Board survey that found players were evenly split between those tightening and those relaxing margin for exotic credit derivatives.

Bid-offer spreads of credit default swaps on European sovereign debt have tightened in the past two weeks on the market’s easing fears regarding the economic health of E.U. members, according to industry officials.

Net derivative liabilities, under Basel II standards, will be taken into account when calculating a firm’s U.K. bank tax, according to a consultation released by H.M. Treasury today.

UBS has hired Mitchell Revsine as an executive director and U.S. equity derivatives strategist in its New York office, according to an internal memo seen by Derivatives Week.

The New Zealand Ministry of Economic Development has issued a consultation paper that proposes to overhaul existing derivatives regulation in the country.

Registered funds that use exotic, riskier derivatives would have to set aside more assets to counterbalance their trades than plain vanilla users under a newly floated proposal.

Amias Berman has expanded its European fixed income structured products team with the hire of two former Citigroup saleswomen.

European credit spreads rallied last week as the picture became clearer on the important bank stress tests.

Asian institutional investors are buying simple, bespoke hybrid notes linked to interest rate or foreign exchange movements and juicing up the payout by betting on the risk of default of a well-known credit name or sovereign.

The Collins Amendment to the U.S. Dodd-Frank Act could impose higher capital requirements on derivatives than previously thought.