Derivs - FX

The Brazilian over-the-counter derivatives market should change in order to allow for more creativity and innovation, especially in collateral management systems, according to Otavio Yazbek, commissioner at the Brazilian regulator Comissao de Valores Mobiliarios.

Jamzidi Khalid, ceo of Deutsche Bank’s international Islamic banking unit and head of Islamic structuring for Asia ex-Japan in Kuala Lumpur, Malaysia, has left the firm, according to an official familiar with the departure.

China’s onshore foreign exchange options market will likely grow at a similarly slow pace to the recently-launched credit derivative market in the country, industry officials say.

Global fx trading activity slowed in 2010 with the exception of a surging yen in Japan and a 68% increase in so-called Tomorrow-Next and other short-dated roll-over trades, according to Greenwich Associates.

Credit Suisse said it plans to tap into the potential of equity derivatives and cash equities to help it reach a return-on-equity target of more than 15% for 2013.

Société Générale Corporate and Investment Banking has appointed Christophe Coutte and David Knott as co-global heads of flow fixed income and currencies.

Bank of America Merrill Lynch has hired Craig Reynolds, ex-head of rates swaps trading at Goldman Sachs in New York, to head its North American rates trading operations, also out of New York.

BNP Paribas has announced plans to expand its investment-banking operations in West Africa with a new office in Lagos, Nigeria.

Citigroup has launched its CitiFX Pro platform in the U.K. for traders who qualify as “professional clients.”

U.S. regulators need to reconsider proposed levels for block trade thresholds, Robert Pickel, executive vice chairman of the International Swaps and Derivatives Association, told Derivatives Week in an exclusive interview.

Central counterparty master bridge agreements and updates to the 2(a)(iii) default provision may not make for headlines as sexy as last year when it comes to the International Swaps and Derivatives Association 2011 Annual General Meeting in Prague, but they will certainly get industry-types excited.

Shawn Bernardo is vice chairman of the Wholesale Markets Brokers’ Association Americas and is also managing director and head of electronic broking for the Americas at Tullett Prebon in New York. He spoke to Associate Reporter Mike Kentz on the aspects of current regulatory proposals in the U.S. aimed at SEFs.