Derivs - FX

Barclays has hired Mark Vaillant as a salesman in emerging market fixed income and fx sales in London.

Nomura has appointed Jai Rajpal as global head of fx in London. Rajpal was previously head of fixed income for Asia ex-Japan at the firm in Hong Kong.

Credit Suisse is advising investors to buy one-month U.S. dollar/yen puts and partly finance them by selling the same notional of one-month calls with a reverse knock-in on the same pair.

BNP Paribas has hired Patrick Schartner, head of institutional sales for Switzerland at HSBC in London, as head of European fx fixed income sales in London, according to an official familiar with the move.

Electronic over-the-counter processing service MarkitSERV has agreed terms with four interdealer brokers to provide voice trade affirmations, regulatory reporting and clearing services for fx transactions.

Nomura has launched an fx correlation business, focusing on index options, basket-type hedges and investments tailored to hedge funds, according to Nigel Khakoo, global head of fx options in London.

James Durcan, an ex-euro fx options trader at the Royal Bank of Scotland in London, has joined Nomura in the same role, also in London.

Daniel Mitchell, an ex-emerging markets fx options trader at the Royal Bank of Scotland in London, is joining Citigroup in a similar role in London.

JPMorgan has hired James Gething, an ex-fx options trader at the Royal Bank of Scotland in London, as co-head of fx options trading for Central & Eastern Europe, Middle East and Africa, also in London.

Jonathan Powell, an ex-fx options trader at Barclays in London, is set to join Goldman Sachs in a similar role, according to an official familiar with the move.

Banks should employ risk mitigation regimes to identify, measure, monitor and control replacement cost risk for fx transactions until settlement has been confirmed and reconciled, according to the Basel Committee on Banking Supervision.

With suppressed volatility markets and suppressed bond yields, investors are chasing other ways to find yield. As a result of this, the fx market has seen a significant uptick in structured products, more specifically, dual currency deposits.