Derivs - Equity

Bank of America Merrill Lynch has begun marketing six-year so-called variable coupon notes.

The planned retirement of Financial Accounting Standards Board Chairman Robert Herz has thrown proposed changes to derivatives accounting into question, as the exposure draft only passed the board by a 3-2 vote, with Herz in favor.

UBS is looking to pitch structured equity derivatives in Asia ex-Japan, a new push for the firm.

Structured products sales in Taiwan, through private banking channels, are picking up well from a practical standstill in the second half of 2009, market observers are saying.

A coalition of industry groups, including the Association for Financial Markets in Europe and the International Swaps and Derivatives Association, has expressed concerns about a single reporting regime for both transaction and position reporting on over-the-counter derivatives based on reporting through trade repositories.

Gary Suen, Deutsche Bank’s head of Asia warrants business, has left the firm in the last week, an official said.

Banning flash orders in the options market could cause another flash crash, a Securities Industry and Financial Markets Association committee has warned.

The Securities and Exchange Commission and the Commodity Futures Trading Commission should make sure to take into account collateralization when setting the threshold for who counts as a major swap participant, according to Philip McBride Johnson, of counsel with Skadden Arps Slate Meagher & Flom and a former head of the CFTC.

Marcel Koebeli, the ex-head of equity structured derivatives for Europe, Middle East and Africa at Nomura in London, has joined Goldman Sachs in a similar role.

Annabelle Wegner, an ex-head of structured product sales for Austria and Germany at the Royal Bank of Scotland in London, has joined Credit Suisse in a similar position.

China corporates need to reevaluate their fx risk management strategy or face the risk of being of getting hurt by purchasing inappropriate and highly leveraged products, says Jing Liang, head China of interest rates and fx corporate sales, at Société Générale in Shanghai.

Morgan Stanley launched a one-year auto-callable quarterly review note this week linked to the S&P GSCI Crude Oil Index to a strong response, selling more than USD31.17 million.