Derivs - People and Markets

UBS chief executive Sergio Ermotti highlighted the ‘paralyzing volatility’ in the market on Tuesday, as the bank announced a 64% year on year drop in net profit in the first quarter of 2016.

Deutsche Bank, Barclays and Standard Chartered all have new-ish bosses, are going through brutal restructuring, and all managed to surpass market expectations when they reported first quarter results last week.

Natixis has announced that Selim Mehrez will replace Alain Gallois as global head of fixed income, alongside a string of other appointments in its corporate and investment banking business.

David Escoffier, deputy head of global markets at Société Générale CIB and the former chief executive of Newedge, has left the French bank after 17 years following the promotion of one of his colleagues to run global markets.

Japanese sovereign bonds managed to deliver positive returns on Thursday, while almost every other asset class suffered from the Bank of Japan’s decision to reject further loosening of monetary policy

Markit and the International Swaps and Derivatives Association have offered concessions to the European Commission in the hope of settling an EU anti-trust investigation into credit default swap trading.

Ullink, the trading technology and infrastructure company, has begun providing direct connectivity to trueEX, an interest rate swap execution facility.

Chinese mainland investors, who regulators were driven to dissuade from speculation after last year's spring fling in stock trading, have begun buying commodity futures in record size – and, with it, brought similar alarm and another regulatory pushback.

The fervour of expectation in the run up to this week’s US Federal Reserve and Bank of Japan meetings ended in widespread pain for foreign exchange, equity and derivative market participants.

BNP Paribas’s head of emerging market credit sales has left the bank.

Dollar-yen currency option prices have risen sharply this week in line with shifting expectations for the Bank of Japan meeting on Thursday, after details were leaked by anonymous officials of a possible negative loan rate to encourage banks to lend.

Moskovskaya Birzha (Moscow Exchange, or MOEX) has vowed to improve risk management and will expand the range of foreign exchange services it provides.