Derivs - Equity

UBS has hired four ex-Citigroup equity structurers in Zurich in an effort to expand its European public distribution trading division, according to a firm memo.

SIX Swiss Exchange and Liquidnet have launched a block equities trading service beginning with roughly 3,000 equities in the U.K., France, Germany and the Netherlands, with more countries to follow.

The International Swaps and Derivatives Association has published the 2011 Equity Derivatives definitions today and has signaled plans to create transaction matrices for U.S. and E.U. index variance swaps by August 31.

Desmond Li, an executive director in regional multi-asset sales to pension funds and insurance companies at Goldman Sachs in Hong Kong, has left the firm, according to officials familiar with the move.

VTB Capital, the largest investment bank in Russia, has opened a branch in Hong Kong to be headed by Judy Lim, chief executive officer of VTB’s Singapore unit, Bill Mui, former chief operating officer of Cypress Lane Capital in Hong Kong, and Hua Shen, former managing director at Mitsubishi UFJ Securities.

David Mansfield, head of delta one trading for Asia at Credit Suisse in Hong Kong has left the firm, according to officials familiar with the move.

Nomura has hired Sourabh Shaha as a director in index flow trading in Hong Kong from BNP Paribas, where he held a similar position, according to officials familiar with the move.

Proposed regulation for disclosure of packaged retail investment products, which was expected from the European Commission in June or July, is now tipped to be released by year-end.

Lazard Asset Management plans to launch an Undertakings for Collective Investment In Transferable Securities emerging market fund by the third quarter.

Citigroup, Credit Suisse, Royal Bank of Scotland, Industrial and Commercial Bank of China, Bank of East Asia and Wing Lung Bank launched new equity-linked structured retail programs in Hong Kong last week as the popularity of the programs continues to grow.

VTB Capital, the largest investment bank in Russia, has opened a branch in Hong Kong headed by the Judy Lim, chief executive officer of VTB’s Singapore unit; Bill Mui, former chief operating officer of Cypress Lane Capital in Hong Kong; and Hua Shen, former managing director at Mitsubishi UFJ Securities.

David Herzberg, managing partner and head of international equity trading at BTG Pactual in London, who recently joined the firm from JPMorgan, is set to launch an international equity multi-strategy trading operation at the Brazilian investment bank that will use equity derivatives amongst other instruments.