Derivs - Equity

Raphael Masgnaux, global head of financing trading at BNP Paribas, has moved from Paris to New York, according to an internal memo seen by Derivatives Week.

JPMorgan is preparing to launch a step-up auto-callable reverse convertible linked to General Electric stock.

The National Futures Association and the Commodity Futures Trading Commission are in talks about giving the Chicago-based self-regulatory organization oversight of swap execution facilities, or SEFs.

Two former Goldman Sachs staffers are working to launch the first equity derivative swap execution facility, called eDeriv.

The City of London, which accounts for 43% of the value of over-the-counter derivatives traded globally, is losing out on attracting financial services startups due to industry fears over the outcome of regulation aimed at derivatives and short selling.

Standard Chartered has hired five senior traders for its Middle Eastern and North African fixed income, currencies and commodities team.

Rory Hill, an ex-senior equity derivatives trader at Citadel in London, is set to join Citigroup as a managing director for relative value trading in equity derivatives based in London.

Stephane Gaillard, head of commodities derivatives at Natixis in London, has left the firm and joined Nomura as a senior fx flow exotics trader in London.

The International Swaps and Derivatives Association has published a change to the master agreement to deal with the impending 30% U.S. withholding tax on equity derivatives.

Daniel Palmer, the ex-head of global capital markets at HSBC in London and formerly co-head of global capital markets for Asia Pacific at Morgan Stanley, has rejoined the latter firm today in a new role based in London.

Institutional investor appetite in light exotics such as worst-of and best-of baskets has picked up in recent weeks, according to P.J. Andersson, global head of pan-Asian equity derivative and convertible sales at Citigroup in Hong Kong.

ING Bank has launched five-year, worst-of memory coupon notes that offer a potential 46% return depending on the performance of three underlying indices.