Derivs - FX

JPMorgan is advising investors to buy three-month seagulls on the U.S. dollar against the yen to position for a JPY recovery if policy proposals in Japan fail to dislodge inflation expectations.

A lack of clarity in what U.K. regulatory authorities define as complex in relation to retail structured products is a serious concern for the industry, according to Timothy Hailes, chairman of the Joint Associations Committee.

The Futures and Options Association has hired Natasha Stromberg as manager of regulation in London.

AXA Investment Managers has hired Rodrigo Ostik in a new role as derivatives manager, based in London. He reports to Shalin Bhagwan, U.K. head of liability-driven investment. The reason for the creation of the slot could not be determined by press time.

A hedge fund picked up a sizeable one touch option on the U.S. dollar against the yen on Thursday, with the Japanese election less than two weeks away.

Ian White, head of fx options for the Americas at the Royal Bank of Scotland in Stamford, Conn., has joined Nomura in New York in a similar role. He has been replaced at RBS by Salvatore Rubino, former head of fx derivatives at MF Global, which he left a little over a year ago.

The U.S. Commodity Futures Trading Commission is expected to exempt regions from compliance to segments of the Dodd-Frank Act and will issue further no-action letters on the back of international pressure not to move too quickly with implementation of reforms, according to industry lobbyists.

Oleg Grishin, v.p. in exotic fx options trading at Credit Suisse in Singapore, has left the firm.

The Australian Securities and Investments Commission has found widespread client money handling weaknesses among contracts for difference and margin fx derivatives brokers.

NYSE Liffe is expanding its Bclear to record and clear European fixed income contracts. The platform, which is a confirmation, administration and clearing service for over the counter derivatives, will list are three-month euribor, short sterling futures and long gilt futures starting Dec. 10.

Ian White, head of fx options for the Americas at the Royal Bank of Scotland in Stamford, Conn., has joined Nomura as managing director and senior fx options trader for the Americas, based in New York.

Swap dealers have landed some relief from recently imposed Commodity Futures Trading Commission pay-to-play rules.