Derivs - FX

End users are refraining from entering topside options on the euro/Swiss franc this week, despite technical factors supporting the trade in addition to comments from a Swiss government official on Monday suggesting a higher re-peg of the currency around CHF1.35-1.40.

Bryn Meredith-Foster, a senior yen options trader at Barclays Capital in Singapore, has resigned.

Markus Ferber, MEP and member of the European Parliament's Economic and Monetary Affairs Committee, has published a long-awaited draft legislative report on the Markets in Financial Instruments Directive.

Société Générale strategists are advising investors to buy one-month 25-delta Australian dollar, U.S. dollar puts as a portfolio hedge.

Standard Chartered is planning to expand its offering of equity indices this year with an aim of issuing structured products off of them.

LCH.Clearnet’s ForexClear platform intends to clear options, among other fx instruments, on its over-the-counter fx clearing service, ForexClear, pending further regulatory clarity on clearing and settlement issues.

ICAP’s Traiana unit has signed up Citigroup, Bank of America Merrill Lynch, Deutsche Bank, JPMorgan Chase, Morgan Stanley and UBS to its Harmony CCP Connect clearing service, giving it a leg up on its rivals.

David Chan, managing director, fixed income, currency, commodities and head of fx trading in Asia at Goldman Sachs in Hong Kong, left the firm late last week, according to market officials.

IntercontinentalExchange has announced that it will launch a new execution-to-clearing workflow for over-the-counter swaps that supports credit risk management, known as Plus One.

Billions in notional in knock-out barrier options on the U.S. dollar/yen have been triggered due to an rise in spot in the dollar.

EFG Financial Products has launched four currency structured certificates allowing investors to participate in appreciation against the euro.

Investors should buy one-year U.S. dollar, Chinese yuan puts at 3% implied volatility, which is considered cheap at current levels, in order to take advantage of China’s long term economic policies.