Derivs - FX

PRAGUE – The International Swaps and Derivatives Association has elected Stephen O’Connor, managing director and global head of over-the-counter client clearing at Morgan Stanley, as the association’s new chairman.

PARIS -- Dealers will have to find ways to price counterparty risk, especially as derivative transactions by corporates may be exempt from clearing obligations.

Asian countries are waiting to move on regulation of over-the-counter derivatives and treatment of fx contracts until they receive clarification on rules being adopted in the U.S. and Europe, according to market players.

A three- to five-year exemption for pension funds from clearing obligations is likely to be included in the next compromise text from the E.U. Council’s working group on European Market Infrastructure Regulation.

The Canadian Securities Administrators has proposed rules designed to reduce risks associated with electronic trading.

The European Union is said to be considering position limits on European commodities traders as French lawmakers press the EU to curb speculation that has been responsible for higher prices in oil and agriculture prices.

A group of 19 industry trade associations, including the U.S. Chamber of Commerce, have called on Congress to extend the July deadline for completion derivatives regulations under the Dodd-Frank Act.

Nirjhar Jain has left as U.S. head of structured-products credit trading at Morgan Stanley.

Baring Asset Management has hired Thomas Kwan as head of Asian debt in Hong Kong.

Commerzbank has named David Tavadian as head of emerging markets fixed-income and currency sales. Before joining the German bank’s London office,

The London Stock Exchange has shuffled top management of its Turquoise trading platform after Xavier Rolet, ceo of the LSE, stepped down as chairman of the Turquoise board.

Prudential Investments has launched a trio of fixed-income funds.