Derivs - People and Markets

Law firm Morrison & Foerster has hired an equity derivatives specialist as a partner at its London office.

Increased market volatility in foreign exchange, derivatives and equities has driven improved investment bank results at UBS. The same volatility has hurt earnings at several other banks reporting this week.

The former chief executive officer of clearing house LCH.Clearnet has become CEO of a risk solutions firm as it launches a platform for margining bilateral non-cleared, over-the-counter derivatives trades

BNP Paribas’ former co-head of fixed income has resurfaced at New York headquartered M&A advisory shop Foros as a senior advisor.

A poor third quarter for Commerzbank’s investment banking division and the announced retirement of its chief executive has done little to spoil the bank’s overall sense of momentum, as it posted better profits than had been widely expected and revealed it would pay its first dividend in eight years.

Deutsche Bank will close several businesses in its global markets division, including market making in uncleared credit default swaps, uncleared interest rate swaps with dealers, agency RMBS trading and high risk weight securitized products trading.

Euronext has launched AtomX, a service that offers central clearing for bilaterally negotiated derivatives trades that would otherwise have been over the counter.

BNP Paribas has hired an experienced financials credit trader to its London operations.

Standard Chartered has decided to exit its equity derivatives and convertible bonds businesses in yet another move by the bank to bolster its performance by withdrawing from non-core operations.

Hong Kong and London’s futures and commodities exchanges have singed a pact to develop a trading link between Hong Kong Futures Exchange (HKFE) and the London Metal Exchange (LME), alongside a clearing link to be called the London-Hong Kong Connect.

A flow credit trader at a European bank who previously focused on financial names has jumped firms and changed remit to trade corporate credit at Goldman Sachs.

LCH.Clearnet Group, the clearing house, has appointed former Federal Reserve Bank of New York senior official Christine Cumming to the board of directors of its US operations.