Derivs - Interest Rate

Liz Hogan, co-head of fixed income, currencies, and commodities for the Americas at Société Générale in New York, has left the firm.

Jon Fraade, a managing director in the commodities index structuring group at UBS in Stamford, Conn., has left the firm and joined JPMorgan Asset Management as a portfolio manager.

­Members of the European parliament are undecided over the makeup of a potential E.U. financial transaction tax and whether it would benefit or damage the economy.

Clearing of over-the-counter interest rate swaps via Singapore Exchange’s central clearing counterparty DerivativesClear rose in January for the first time in three months to SGD12.92 billion (USD10.34), from SGD1.26 billion (USD1.01) in December.

The possibility of a euro member leaving the currency union—and even the European Union itself—is increasingly center stage for firms and their advisors who are poring over contracts to assess whether they need revision.

Australia’s legal definitions for derivatives are working effectively and should not be simplified further through changes to the nation's main financial markets law, according to the Corporations and Markets Advisory Committee.

Hector Cortes, an ex-managing director in structured product sales at Nomura in New York, has moved to PrinceRidge Group in New York to head fixed income structured products institutional sales for Latin America.

EFG Financial Products has launched a multi-barrier reverse convertible structured product on three oil service company stocks denominated in XAU, the trading unit for gold.

Malaysia’s central bank, Bank Negara Malaysia, is liberalizing its fx and interest rate derivatives markets.

StormHarbour has hired Eric Daniels, the ex-group chief executive of Lloyds Banking Group in London, as a principal and senior adviser.

Japan’s first annual trade deficit since 1980 has sparked a flurry of fx option trading taking the view the U.S. dollar will appreciate against the yen over the short- and long-term.

A memo from Credit Suisse CEO Brady Dougan yesterday setting out alternative ways of paying a proportion of employee bonuses through a derivative-backed structured note had pulses racing among some in the investment banking community by the evening.