Derivs - FX

David Ruder, former Securities and Exchange Commission chairman and a key panelist on the newly formed SEC/Commodity Futures Trading Commission committee on harmonizing emerging regulations, wants to see more transparency, but without forcing the derivatives business offshore.

Macquarie Securities Group has hired Todd Steinberg as global head of delta one in New York.

The Bank for International Settlements is advising trade repositories to report data from participants in real-time when possible, with a minimum lag of one business day.

The Bank for International Settlements today recommended over-the-counter derivatives CCPs regularly check their procedures for coping with the failure of a member firm.

Nomura has hired James Land from Westpac Banking Corp. to head up all of fixed income for Australia, a new role for the firm.

Edward Chen, head of non-deliverable forwards trading for Morgan Stanley in Asia, has left the bank.

Hedge funds were buying up one-day and one-week call options on the U.S. dollar against sterling early this morning, as results began to emerge from the U.K. general election pointing to a hung parliament.

Bank of America has hired Keith Ryan in its institutional fx sales business in Hong Kong. Ryan joined as a director from Deutsche Bank last week.

Morgan Stanley today starting selling two-year notes with embedded digital options referencing a basket comprising the euro against the Korean won, Indonesian rupiah and the Singapore dollar.

A large U.S. buysider built a USD1 billion put position yesterday on the euro against the U.S. dollar with a strike of USD1.29 and tenor of one month.

Norwegian export financer Eksportfinans today released an over-the-counter accelerated return note linked to the spot price of silver, giving investors three-to-one upside exposure up to a cap of 25.3%. There is no principal protection and no cap on downside exposure.

Strategists at Citigroup are recommending a three-week euro call/ U.S. dollar put with a strike of USD1.325 and double knock-outs at USD1.31 and USD1.37. The rationale is to capture what the firm believes will be a fast, but modest, uptick in the euro amid the proposed bailout for Greece now that the country has more incentives to adhere to the provisions set out in the rescue package.