Derivs - People and Markets

Buyside firms are concerned that some swap execution facilities (SEFs) may make certain derivatives instruments made-available-to-trade (MAT), which competing SEFs or clearing houses will not have the ability to support, therefore negatively impacting the portfolios that they manage.

Elizabeth Nolan, ex-head of global client services and client onboarding for markets and investor services at JPMorgan in London, is set to join Deutsche Bank as head of custody and clearing, also in London, effective January 2015.

The Bank of England is to provide a liquidity back-stop to central counterparty clearing houses and brokers deemed critical to the stability of the UK financial system, shoring up so-called ‘too big to fail’ clearing houses in times of crisis.

Anup Gupta, ex-Asia Pacific distribution head for Barclay’s structured products e-trading platform, has joined Vontobel as regional head Asia Pacific for the firm's structured products multi-issuer platform, deritrade, based in Singapore.

Hedge funds and real money players have been snapping up payer spreads on iTraxx Main following the Bank of Japan’s unexpected announcement that it would increase monetary stimulus spending, resulting in a steepening of the payer smile.

Options trading volumes on the dollar against the yen has continued to spike following the Bank of Japan’s unexpected announcement that it would ramp up its monetary stimulus in another round of quantitative and qualitative easing.

Overall credit default swap notional that was reported to swap data repositories last week decreased by 21% from the previous week, according to data from the International Swaps and Derivatives Association. Overall interest rate derivatives trading that was reported, also saw a decrease of 17% from the previous week.

There has been a surge in investor interest to structure cheap VIX-based tail risk trades to hedge against a sharp rise in volatility.

James Cawley, founder and ex-CEO of Javelin Capital Markets in New York, has joined BGC Partners as CEO of its swap execution facility, also based in New York.

Kokou Agbo-Bloua, the ex-head of European equity and derivative strategy at BNP Paribas in London, has joined Société Générale as managing director, global head of engineering and strategy, also based in London.

Javelin boss to run BGC's SEF - Deutsche appoints UK corp fin head - McGuire out of StanChart loans - Cornelius quits Jefferies

Trade reporting under the European Market Infrastructure Regulation is not working, according to the Wholesale Markets Brokers' Association, which represents a large proportion of interdealer brokers in the market.