Derivs - FX

Investors in Asia were awaiting reaction market in New York and London before putting on fx option trades following the Bank of Japan’s announcement Tuesday that it plans to target an inflation rate of 2%.

Morgan Stanley has lost two more from its fx sales and trading desk in Singapore and Hong Kong, with Zachary Heng and Supat Julsiri leaving recently.

Investors should go long the U.S. dollar against the Malaysian ringgit through seagulls to position for a decline in the Malaysian currency prior to national elections, according to strategists at Nomura.

Leveraged investors should buy one-month puts on U.S. dollar, China onshore yuan at-the-money non-deliverable forwards as CNY continues to appreciate in 2013, according to strategists at Standard Chartered.

THEAM, the USD55.6 billion asset management division of BNP Paribas, has just bought a one-year broken call butterfly on the euro against sterling.

ETF Securities has hired Frank Spiteri, a former senior equity derivatives trader at KBC Financial Products, as head of retail distribution.

Tradition-ICAP, the interdealer fx option broker, has launched volatility swap trading on its electronic platform, Volbroker.

Thomas Haskins, head of emerging market and fx sales at Morgan Stanley in New York, has left the firm.

Nick Strain, managing director and head of the fx emerging market sales desk at Morgan Stanley in Hong Kong, has left the firm.

Traders are seeing an uptick in worst-of options looking for U.S. dollar/yen upside against other currency pairs.

Approaches to applying prudent valuation requirements to trading positions, set out by the European Banking Authority under the draft capital requirements regulation, are unnecessarily prescriptive and formulaic, according to a number of trade associations.

Makram Fares, the ex- co-head of European equity sales and equity derivatives at Nomura in London, is set to launch his own interdealer broker and advisory firm.