Derivs - Credit

Tareq Islam, the former head of credit derivative sales for U.K. and Ireland at UBS in London, is to join Goldman Sachs as head of U.K. structured credit sales.

Eurex wants to use its clearing platform for over-the-counter credit default swaps for other types of OTC trades.

Loan-only credit default swaps referencing Idearc Inc. will settle at 38.5, meaning protection sellers pay out 61.5 cents on each dollar of protection sold, Markit and Creditex determined in an auction earlier today.

Omgeo is looking for ways it can play a role that would allow buy-side firms to benefit from the central counterparty clearing model for credit derivatives.

Bob Pickel, ceo of the International Swaps and Derivatives Association, has played down concerns that the new decision-making committee on credit default swap triggers may meet logistical problems in Asia due to its diverse legal jurisdictions.

Allstate Corp. has stated that all the credit default swaps it has sold were written by regulated subsidiaries that have the approval to do so.

Loan-only credit default swaps referencing Charter Communications can be settled at 78, Markit and Creditex determined in an auction Tuesday, meaning protection sellers pay out 22 cents on the dollar.

Brett Golledge, European head of investment grade flow credit trading at Royal Bank of Scotland in London, left the bank last week.

Yi Gang, deputy governor of the People’s Bank of China, sidestepped questions on whether he supports the use of credit default swaps at the International Swaps and Derivatives Association annual general meeting in Beijing today, shortly after he expressed a strong desire to see Chinese corporate bond issuance increase.

Some prop desks have expressed an interest in buying tranches of synthetic collateralized debt obligations in part of in full if they are listed for sale by banks, insurance companies and asset managers, according to SecondMarket, an independent marketplace for illiquid assets.

Antoine Thibaud, a director in credit default swaps trading at Barclays Capital in London, left two weeks ago for a position at Société Générale.

An unidentified interdealer broker started calculating upfront fees for credit derivative index trades today based on new conventions that have not been formally agreed to and was forced by pricing model administrator Markit to back down.