Derivs - FX

HSBC has hired an interest rates strategist away from the Royal Bank of Scotland, adding to its research desk in Singapore.

Banks in Hong Kong are getting set to approve a swath of over-the-counter renminbi-denominated swaptions, according to lawyers active in the transactions.

Fx derivatives trading volumes on Indian stock exchanges plunged by 40% Monday after the country’s three major bourses started charging for transactions.

Sergio Kostek, head of Latin American local markets trading at Royal Bank of Scotland, has left the firm.

MCX-X has become the third Indian exchange to announce it will impose transaction charges for fx derivatives.

Cantor Fitzgerald’s newly launched exchange-traded fund arbitrage business will look to establish in-house synthetic ETF and over-the-counter option trading capabilities within the next year.

Ashurst has transferred London partner Chris Whiteley to Hong Kong as the branch’s only derivatives partner, according to a memo from the firm.

India’s United Stock Exchange has followed the National Stock Exchange in announcing that it would impose a service charge on fx derivatives trading.

The chances of a financial transaction tax being successfully applied would be improved if different countries jointly introduced the tax in a uniform manner, according to an International Monetary Fund report.

Two foreign banks and four local Chinese banks have joined the onshore yuan options market, bringing the number to 20.

The International Swaps and Derivatives Association and the International Islamic Financial Market will circulate drafts of Shariah-compliant trade confirmations for fx swaps and forwards to their members by the fourth quarter.

Investors should buy U.S. dollar/Chinese yuan non-deliverable forward put spreads to take advantage of CNY appreciation being underpriced in the forward market, according to Standard Chartered strategists.