Derivs - FX

European antitrust regulators are investigating Libor-based interest rate derivatives and are looking at whether companies have breached E.U. cartel rules.

Eurex is to expand its dividend derivatives offering by launching ten new dividend futures on March 2.

Credit Suisse has launched a capital protected structured product that allows investors to take advantage of the appreciation of a basket of Asian currencies against the U.S. dollar.

Standard Chartered strategists are advising investors to buy a two-month U.S. dollar, yen calls with a strike at JPY79.5 and a knock in feature at JPY77.00.

A handful of hedge funds bought over USD1 billion of options on the U.S. dollar/yen this week as quantitative easing measures by the Bank of Japan kickstarted a swing towards yen weakness that the funds believe will continue over the short-term.

The Monetary Authority of Singapore will not require foreign regulators seeking data from its trade repositories to provide indemnification against litigation.

Alternative proposals in Europe for non-equity pre-trade transparency in the Markets in Financial Instruments Directive II will be considered, although it is too early to say what form such rules will take, according to Markus Ferber, Member of the European Parliament, who is heading up MiFID for the Parliament’s Economic and Monetary Affairs Committee.

Jefferies Bache has hired Mike Newton, former global macro trader at Caxton Associates, as a managing director in its fx group in New York.

Former Texas Sen. Phil Gramm has retired as chairman of UBS’ investment bank, but will remain with the firm as a consultant.

Lloyds Banking Group has named Jeremy Adam as head of fx structuring.

Liz Hogan, co-head of fixed income, currencies, and commodities for the Americas at Société Générale in New York, has left the firm.

Asian corporates are buying one-year euro/U.S. dollar target redemption forwards with a strike at USD1.25 to get access to euros more cheaply than current spot.