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Derivs - People and Markets

  • NatWest Markets has hired UK rates trader James Bucknall from Deutsche Bank, where he was head of sterling trading.
  • Barclays has hired a senior trader from JP Morgan in New York to replace Naseer Al-Khudairi as head of electronic trading and digital strategy for its markets division.
  • Barclays has appointed Anita Tanna as managing director and head of EMEA generalist and specialist cash sales in London, having hired her from Citi.
  • Mizuho's new head of linear rates trading, Jason Cohen, has made three hires as he looks to build a franchise for the Japanese bank in EMEA.
  • The lack of clarity over whether the UK and the EU will clinch a trade deal before the end of the year also makes it harder for those in financial markets to know whether equivalence decisions will be granted for the trading obligations for derivatives (DTO) and shares (STO).
  • MSCI picks up Nick Mihic — Algomi co-founder Stuart Taylor joins MUFG — Vinod Vasan changes roles at UBS
  • As market participants prepare for the end of the Brexit transition period on December 31, the European Securities and Markets Authority has said it will not change requirements on where derivatives can be traded, even though this could cause problems for UK branches of EU investment firms.
  • MSCI has hired Nick Mihic as head of client coverage for Germany, Austria and Switzerland.
  • As investors sought gold and silver as a hedge against inflation and uncertainty, investment banks with the capabilities to act in these markets benefitted. Some made more than $100m in precious metals in the third quarter, according to Coalition Greenwich.
  • Société Générale said on Monday that planned "adjustments and optimisations" should lead to a net reduction of around 640 posts in France, as it changes its structured products business and mulls altering securities services too.
  • The US Commodity Futures Trading Commission and the Bank of England signed a memorandum of understanding on Tuesday regarding the oversight of derivatives clearing.
  • The transition from Ibor benchmarks passed a major milestone this week, when LCH joined CME in switching its discounting rate for dollar referencing derivatives from the Fed Funds Rate to Sofr.
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