Derivs - Interest Rate

Barclays Bank Ireland has named Benette van Dyk as a director of structured trade and sales finance. Van Dyk previously headed trade finance at The Standard Bank of South Africa and The FirstRand Group South Africa.

Canada’s Scotiabank is looking to grow its prime brokerage operations to attract hedge fund business, with plans to use a generic off-the-shelf technology platform to quickly enter the field.

Deutsche Bank is planning to reduce the size of its investment-banking business in Dubai by 25%, with a number of directors expected to leave.

Deutsche Bank has named the executive committees of its EUR900 billion Asset & Wealth Management, as the bank is overhauling its structure.

Paul Collins, managing director and head of hybrid and structured products trading at Nomura in Singapore, left the firm last week and is joining Standard Chartered Bank.

Pension funds and insurance companies could ditch interest rate derivatives for cash bonds since the former would be too expensive to trade following the implementation of regulation for over-the-counter derivatives in Europe, according to Société Générale.

The London interbank offered rate is economically relevant and necessary for the functioning of the over-the-counter derivatives market, and any discontinuation of the benchmark process could result in systemic risk and market dislocation, according to the International Swaps and Derivatives Association.

Mukesh Dave, managing director and co-head of emerging markets Asia macro trading at UBS in Singapore, is set to leave the firm.

Operational, compliance and implementation costs stemming from regulatory change are likely to be passed on to end-users, attendees heard at the Swiss Futures and Options Association's 33rd Bürgenstock meeting in Interlaken today.

Regulators came under fire this morning at the Swiss Futures and Options Association's 33rd Bürgenstock meeting in Interlaken.

UBS is marketing money market switch notes, which observers say are novel structured deposits with an extension option. The notes are the first of their kind, according to buysiders and sellsiders, and are being pitched in Europe and Asia Pacific.

The Chicago Board Options Exchange Futures Exchange is planning to extend its preopening session for VIX next year by offering VIX futures volatility trading for 24-hours per day.