Derivs - People and Markets

Prashant Puniya, ex-electronic trading fx options trader at Deutsche Bank in New York, has joined Citigroup as a G10 fx options trader. He is based in London.

Banco Bilbao Vizcaya Argentaria has expanded its equity derivatives flow and structured products capabilities in Europe to grow its distribution in the U.K., Switzerland, the Nordics and France.

Capula Investment Management, the USD13 billion fixed income and currency focused hedge fund, has hired Gagandeep Singh an emerging markets fx options trader.

The Hong Kong Exchange has presented its plans for after hours futures trading to the Legislative Council’s Panel on Financial Affairs.

Jay Elkins, head of delta one sales for the Americas at UBS in New York, has left.

LCH.Clearnet’s ForexClear platform has cleared USD500 billion of fx non-deliverable forwards since its launch last March.

Thomas Jarck, managing director and head of U.S. index flow trading in global equity derivatives at Deutsche Bank in New York, has left the firm.

Morgan Stanley has hired Yuichi Yamashita, an ex-v.p. and index arbitrage trader at Société Générale in Hong Kong.

Initial margin requirements in proposals from the Securities and Exchange Commission would curtail the use of uncleared swaps for hedging and challenge the resilience of the financial system.

Some dealers have started booking in London some derivatives that would normally have been booked in Hong Kong to avoid facing compliance problems under the Foreign Account Tax Compliance Act.

Scott Stickler, global head of UBS’ hedge fund prime brokerage service in New York, has left the firm.

Proposals from the European Parliament’s Economic and Monetary Affairs Committee to establish key information documents alongside investment products would hamper innovation and could freeze markets, according to the European Structured Investment Products Association, in a response.