Derivs - Equity

The most viable model for clearinghouse interoperability in the Asia Pacific region would be one in which regional clearinghouses became members of a so-called super-central counterparty, Keith Noyes, regional director of the Asia Pacific for the International Swaps and Derivatives Association in Hong Kong, told Derivatives Week in an wide-ranging interview.

Singapore’s Economic Development Board is approaching U.S. corporate treasurers to pitch the city state as location for their treasury trading desks.

Dealers over the past few weeks have been unwinding short volatility positions they had originally put on to hedge against issued structured notes as a slew of up-and-out call structured notes continue to knock out.

Lawyers say the exemptions for settlement of derivatives trades under a proposed Chapter 11-like law in Hong Kong are too narrow and could put swap counterparties in Hong Kong at a competitive and cost disadvantage.

Investors should outsource their collateral management operations in the post-reform OTC market, even if they feel it is a core competency, according to panelists at Financial Technology Forum’s OTC Derivatives Operations and Processing Conference today.

Filippo Fiori, a senior exotics equity derivatives trader at Goldman Sachs in London, has joined Credit Suisse as a single stock exotics trader, also in London.

RBC Capital Markets has hired Scott Jones, a former senior v.p. in equity derivatives trading at Nomura in London, in a similar position also based in London.

The Royal Bank of Scotland has hired Eli Vichman, the ex-head of trading at alternative investment manager RP Capital Group in London, as head of emerging market trading, also in London.

Subdued equity derivatives markets factored into a 23% decline in income in Barclays Capital’s equities and prime services business during the third quarter of 2010, according to an interim management statement from the firm.

The Securities and Exchange Commission will look at how circuit breakers work in the equity market, before thinking about adopting them in the over-the-counter derivatives markets, according to Chairman Mary Schapiro.

David Bizer, chief administrative officer of Nomura’s wholesale division in London, is reportedly set to leave the firm in the next few weeks.

Barclays Capital has transferred Alain Chanezon, a senior exotic equity derivatives trader in London, to a new role as head of equities and fund structured markets exotics trading in Hong Kong.