Derivs - People and Markets

The Securities and Exchange Commission has announced the departure of two senior members of staff.

BNP Paribas looks set to lose its high yield credit trading head in London.

The technical standards for Europe’s Markets in Financial Instruments Directive have been pushed back, in the hope of achieving better regulation when it finally hits the statute book. But the new deadline will be painful for regulated firms.

Société Générale is merging its high yield and hedge fund sales businesses, with the two team heads likely to leave their posts.

An experienced sterling credit trader has left BNP Paribas and is heading to Credit Suisse to help build out a similar desk there, say market sources.

Nomura looks set to lose the head of its emerging market rates business in London as well as a senior trader, say market sources.

A senior emerging markets credit trader is set to leave UBS to oversee a global EM portfolio for Brevan Howard, say market sources.

The International Swaps and Derivatives Association (ISDA) and Markit have partnered to launch a trade classification tool for EMIR, which will allow investors to determine clearing obligations.

Event driven macroeconomic factors are driving investors to put on options hedges, particularly as sell-offs in credit and interest rate markets spill over to equities, according to strategists.

Changing regulations, evolving cost structures and collateral optimisation systems moving to the front office are forcing buyside firms to consider outsourcing their operations, according to a leading market research firm.

The Australian Securities Exchange has launched FlexClear, an over-the-counter service for equities options that is expected to benefit buyside firms looking to tailor strategies through central clearing.

Société Générale Prime Services has begun executing and clearing non-deliverable forwards through a central counterparty, to allow users to gain margin efficiency and risk protection.