Derivs - People and Markets

The Joint Associations Committee on retail structured products has urged the Basel Committee on Banking Supervision to be flexible in its point of sale disclosure documents in order to help firms comply with the rules without undermining other guidelines.

Laurent Paulhac, senior managing director for interest rate and over-the-counter products and services at CME Group, is set to join ICAP SEF in New York as a managing director and ceo.

The Japan Securities Clearing Corp. is investigating the possibility of clearing cross currency swaps, according to Takeshi Hirano, director, strategic planning and over-the-counter clearing service. If it goes ahead, it would be the first clearinghouse to clear the swaps.

Market officials will meet at a Financial Stability Board workshop next month to discuss the possibility of creating a global trade repository that will collate data from other regional repositories. The so-called “repository of repositories” will be pursued to solve fragmentation issues so that global financial regulators can access information being collected by TRs in other jurisdictions.

Japan should sign memorandums of understanding with U.S. and European financial regulators in a bid to facilitate the sharing of information regarding important financial institutions, such as central counterparties, swap dealers and trade repositories.

Yuri Lin, head of North East Asia fixed income sales at ANZ in Hong Kong, is moving to Natixis in a new role.

E.U. regulators are set to issue guidelines for payoffs in investment products, including structured products, after an amendment to Packaged Retail Investment Products legislation was passed by the European Parliament’s Economic and Monetary Affairs Committee on Monday evening.

Bloomberg has completed the first cleared bunched derivative trade via its swap execution facility. The firm has developed new SEF functionality for its clients ahead of a Nov. 1 deadline set by the Commodity Futures Trading Commission for registered SEFs to complete onboarding documentation, including customer agreements.

JPMorgan has hired Dick Söderberg, an ex-interest rates trader at Barclays in London, as a fixed income trader, also based in London.

Société Générale has hired Herve Gallo, the co-founder of Occitan Capital Partners, and Christopher McNally, a partner at the London-based hedge fund.

Jamie Kermish, the former co-head of equity derivative distribution for Europe at Morgan Stanley in London, has joined Mariana Capital Markets as a partner in London.

Lloyds Bank has tapped Oliver Carter, a former senior investment grade corporate credit trader at Mizuho in London, as head of investment grade corporate trading, also in London, in a new role.