Derivs - Interest Rate

Mark Valentine, Europe, Middle East and Africa head of the packaging group within Citigroup’s multi-asset structuring business in London, has left the firm after less than a year.

The European Commission has instructed the European Securities and Markets Authority to produce draft regulatory standards on the cross-border application of the European Market Infrastructure Regulation by Sept. 25, 2013.

Mainland Chinese securities firms are not using the recently released Securities Association of China master agreement, opting instead to use the National Association of Financial Market Institutional Investors contract due to regulatory uncertainty, according to officials.

John McCormick, ceo of markets and international banking, Asia Pacific, at the Royal Bank of Scotland in Hong Kong, has left the firm.

Credit Suisse is recommending a euro payer calendar spread based on the flatness of the volatility surface and the view that the risk of a rates sell-off is skewed toward later in the year.

Voting is now open for the Global Derivatives Survey, a comprehensive customer ranking of derivatives sellsiders in the credit, equity, fx, interest rate and structured products markets. The survey, from Derivatives Intelligence & Derivatives Week, will poll institutional and retail investors from the Americas, Europe, the Middle East and Africa, and Asia Pacific across multiple asset classes.

The Commodity Futures Trading Commission, pursuant to the Dodd Frank Act, has implemented rules which require that all swap counterparties report and keep record of certain swap data.

To express the view that euro swap rates and volatility will stay low, the Royal Bank of Scotland is recommending selling 1y2y at-the-money straddles.

To position for a 25 basis point rates cut by the Norges Bank at its policy meeting Wednesday, Barclays is suggesting going long forward rates agreements.

There’s been a spurt of departures and arrivals in senior interest rate bankers as fixed-income markets are tipped to be a trading hot spot.

Keiran Ramsay, head of Australian dollar rates trading at the Royal Bank of Scotland in Sydney, is joining Nomura Securities as head of short-term interest rate trading

David Korpi, director in U.S. dollar swaps trading at Deutsche Bank in New York, has left the firm.