Derivs - Equity

Todd Steinberg, senior managing director and global head of derivatives delta one at Macquarie Securities in New York, has resigned from the firm this week.

Central clearing houses in Asia will scramble against each other to secure cash from near defaulting counterparites if fragmentation and extra-territoriality issues are not settled among the region's regulators, according to Stephen O'Connor, chairman at the International Swaps and Derivatives Association.

HSBC has issued USD63 million in structured notes linked to both the S&P 500 and the Euro STOXX 50 due in one year.

It is vital that risk managers in vertical integrated central counterparty models have an independent and clear reporting line to the board to ensure financial stability, according to Paul Tucker, deputy governor for financial stability, member of the Monetary Policy Committee and member of the Financial Policy Committee at the Bank of England.

BNP Paribas has hired Nana Yamazaki, a former auto industry analyst at Bank of America-Merrill Lynch in Tokyo, to head of research in dividend-based derivatives, also in Tokyo.

The Eurozone crisis has reached a critical point.

Ferruccio Ferrara, the former head of rates sales for Europe, Middle East and Africa and Asia at Bank of America, and Giuseppe Galimberti, the former deputy general manager at Banca IMI, have launched a hedge fund company. The firm, called Negentropy Capital Partners, received regulatory approval from the U.K. Financial Services Authority two weeks ago.

The Royal Bank of Scotland is rolling out a novel structured product in Asia Pacific that determines an investor’s basket weighting at maturity depending on the performance of three underlying.

Nick Brown, an exchange-traded fund trader at Citigroup, has left the firm.

Christian Arriz, equity derivative flow salesman at BNP Paribas in New York, has left the firm.

BNP Paribas’ strategists are recomending investors buy a call spread on the S&P 500 Total Return Index(SPTR), a proxy for the S&P 500 that includes reinvested dividends.

European antitrust regulators are primarily concerned with the combination of the futures and over-the-counter options dominance in the NYSE-Deutsche Borsë proposed merger.