Derivs - FX

South Korea’s Ministry of Strategy and Finance is considering further reducing the amount corporates in the country can hedge on their currency risk

Royal Bank of Scotland has hired Timothy Yule as the firm’s head of non-equity structuring for Australia, based in Sydney.

Hedge funds have been pocketing profits on short-term double no-touch options on the euro and U.S. dollar, predicting it would trade between USD1.19 and USD1.25.

StormHarbour Partners, the boutique formed by ex-Citigroup trading executives Antonio Cacorino and Frederick Chapey, has hired Michel Labrousse as a managing director of Asia derivatives and structured solutions.

Established participants in the equities and commodities markets view over-the-counter foreign exchange as an alpha-generating opportunity.

Several market makers were buying two-week at-the-money U.S. dollar/yen straddles and selling three-month versions of the same trade this week. The view is that short-term and long-term implied volatility will begin to level out.

Credit Suisse has hired Bernadina Suen from Deutsche Bank as a sales executive covering fixed income for Hong Kong.

Standard Chartered has hired Reza Ridzuan from Barclays Capital to head up fx and interest rates structuring for South East Asia.

Currency options traders are expecting the options market to be dominated by a slew of six-month to one-year put options on cable over the next few days.

The Securities and Exchange Commission’s structured products unit will likely hire three industry professionals next month, Kenneth Lench, head of the unit within the Division of Enforcement, told Derivatives Week.

Credit Suisse has launched a 13-month capped leveraged structured note linked to both a basket of Asian equity indices and their corresponding currencies.

Hedge funds were selling USD3 billion in euro/U.S. dollar risk reversals last week positioning for a drop in short-term implied volatility and moderate rise in euro spot. The trades stood out because they were made by just a few funds.