Derivs - People and Markets

Jefferies has made a number of credit hires in London. The firm has tapped Dale Hogan, an ex-high yield credit trader at BNP Paribas in London. Nick Wood, director and financials cash trader at Morgan Stanley in London and George Mavridoglou, a credit trader a RBS in London are also reportedly joining later this year.

Banco Bilbao Vizcaya Argentaria in Hong Kong has internally promoted Stanley Chan to head of fx trading Asia.

The Singapore Exchange is planning to introduce a more accurate closing price measurement for illiquid exchange-traded funds in a bid to boost liquidity and help investors value their portfolios.

GFI Group has applied to the U.S. Commodity Futures Trading Commission to become a multi-asset swap execution facility under Dodd-Frank.

James Nowak, a credit trader at Deutsche Bank in London, is to join Goldman Sachs as v.p. of credit trading in London in September.

Aroen Ramnathsing, ex-managing director in interest rates derivatives trading at the Royal Bank of Scotland in Stamford, Conn., is set to join Nomura in a similar role in New York.

Troy Bowler, managing director and head of emerging markets rates sales at Barclays in Singapore, has joined ANZ.

The International Swaps and Derivatives Association has published a protocol that allows counterparties in a swap to simultaneously amend the terms of an existing ISDA Master agreement to comply with new regulation imposed by European Markets Infrastructure Regulation.

The European Securities and Markets Authority is clarifying when third parties will be required to comply with the European Markets Infrastructure Regulation in a consultation paper on regulatory technical standards for OTC derivatives, central counterparties and trade repositories.

We may now be entering the summer lull, with the U.K. roasting in a rare heatwave and much of continental Europe preparing for holidays.

Foreign institutions are concerned they will have to enter a foreign financial institution agreement with the U.S., or otherwise suffer a withholding tax on their derivatives transactions, if intergovernmental agreements are not concluded before the implementation date of the Foreign Account Tax Compliance Act.

The Australian Council of Financial Regulators is recommending the government enforce mandatory clearing for over-the-counter U.S. dollar, Japanese yen, euro and sterling-denominated interest rate swaps, a reversal from its past stance of a market driven solution to its G20 derivative reform commitments.