Derivs - People and Markets

Josh Spitz, the ex-head of U.S. equity flow index derivatives trading at BNP Paribas in New York, is set to join Wells Fargo, also in New York.

Firms that are engaged in derivatives trading are being asked to specify their derivative exposure in a range of asset classes entered into from Nov. 1, 2012 to Oct. 31, 2013, and submit the numbers via a survey to the Hong Kong Securities and Futures Commission by Dec 20, 2013.

Ben Radclyffe, head of equities electronic trading, Australia, at Deutsche Bank in Sydney, is relocating to the firm’s Hong Kong office.

Clearing regulation will make credit derivatives less viable trading instruments for funds, according to Valentijn van Nieuwenhuijzen, head of strategy at ING Investment Management in Amsterdam.

Sara Simmons, ex-director of European credit sales for the Benelux region at Mizuho in London, and Per Mortensen, ex-head of fixed income sales at Piper Jaffray in London, have joined Cantor Fitzgerald Europe as managing directors in London.

Regulatory requirements for buysiders in regard to bunched orders is deterring some investors from trading on swap execution facilities, according to Richard McVey, chairman and ceo of MarketAxess, told attendees at the at the Wholesale Markets Brokers' Association's SEFCON IV conference at the Grand Hyatt Hotel in New York on Monday.

Varying regulation in different jurisdictions is going to result in fragmentation and the potential for regional markets, according to speakers at the Wholesale Markets Brokers' Association's SEFCON IV conference at the Grand Hyatt Hotel in New York yesterday.

The European Securities and Markets Authority has called on firms to be more transparent in disclosing its credit risk when publishing information on the use of credit derivatives in financial statements. The regulator is therefore requesting greater disclosures when reporting under International Financial Reporting Standards and in the forthcoming Asset Quality Review.

BlueCrest Capital Management has continued its equities team expansion with the appointment of senior portfolio managers from sellside firms.

The International Swaps and Derivatives Association has released a pre-publication draft of changes to its credit event definitions. The draft follows proposed amendments to the original 2003 definitions were released in July.

Albert Dombrowski, Americas head of the special situations group at Goldman Sachs in New York, is retiring from the firm.

Pieter Van Vredenburch, head of U.S. interest rates trading at the Royal Bank of Canada in New York, has left the firm.