Derivs - FX

MarkitSERV has seen clients clear USD3.5 trillion notional of over-the-counter derivatives since the electronic trade processing platform started to connect clients and clearinghouses in Dec. 2010.

Institutional investors have been selling calls on the U.S. dollar against the yen after the Bank of Japan unexpectedly announced further monetary easing at its policy meeting today.

JPMorgan is advising investors to buy a three-month put butterfly on the U.S. dollar against the yen, playing the view that the Bank of Japan will leave monetary policy unchanged at its meeting this Wednesday.

Hedge fund investors are looking at three-to-six-month range accruals and double-no-touch transactions that reference the Australia dollar, New Zealand dollar or euro against the Japanese yen.

Barclays Bank Ireland has named Benette van Dyk as a director of structured trade and sales finance. Van Dyk previously headed trade finance at The Standard Bank of South Africa and The FirstRand Group South Africa.

Canada’s Scotiabank is looking to grow its prime brokerage operations to attract hedge fund business, with plans to use a generic off-the-shelf technology platform to quickly enter the field.

Deutsche Bank is planning to reduce the size of its investment-banking business in Dubai by 25%, with a number of directors expected to leave.

Deutsche Bank has named the executive committees of its EUR900 billion Asset & Wealth Management, as the bank is overhauling its structure.

The European Securities and Markets Authority has released a consultation paper on proposed guidelines on remuneration policies and practices under the Markets in Financial Instruments Directive.

Hugo Ohta, an fx option trader at HSBC in London, and Philippe Zebouni, an fx option trader in Hong Kong, have both left the firm.

A push to internationalize the master agreement developed by China’s National Association of Financial Market Institutional Investors (DI, 11/23/11) is facing opposition within the regulatory system as well as from the industry, according to lawyers who track the issue.

Credit Suisse is pitching a two-month U.S. dollar/Russian ruble 1x2 put spread with a reverse knock-in barrier as a way to position for a near-term ruble appreciation.