Derivs - People and Markets

Ross Ryan, a delta 1 and equity finance trader at Bank of America Merrill Lynch in Hong Kong, has resigned from the firm to join Barclays.

Patrick Flaherty, an interest rate options trader at Deutsche Bank in New York, has left the firm.

Proposed changes regarding how U.K. client assets are held by non-bank clearing members may result in significant operational challenges and greater costs in futures clearing.

The International Swaps and Derivatives Association has set out the potential issues that Japanese market participants could face following the adoption of U.S. Commodity Futures Trading Commission guidance and the European Market Infrastructure Regulation in the E.U.

Kurt Overley, a pioneer in the hedge fund derivatives market for more than 20 years, has joined StormHarbour.

Simeon Tsonev, an fx options trader at Credit Suisse in London, has joined Westpac in a similar role.

Matt Johnson, the ex-head of flow equity derivative sales for Europe, the Middle East and Africa at Bank of America Merrill Lynch in London, has joined ETF Securities in a new role.

Philip Turner, a managing director in Royal Bank of Scotland’s global structuring group in London, has left the firm.

Global market participants are already migrating their trading of over-the-counter derivatives onto central clearinghouses or switching their allocation to exchange-traded alternatives ahead of mandatory clearing laws, according to the World Federation of Exchanges.

The European Securities and Markets Authority has declined to adopt straight-through-processing for its final regulatory technical standards for over-the-counter derivatives, central counterparties and trade repositories.

The Royal Bank of Scotland is set to reduce the size and footprint of its investor products and equity derivatives unit globally in an effort to take out significant costs from the business, according to officials. As part of the move, led by Peter Nielsen, ceo of markets, the investor products and equity derivatives unit will be integrated with the firm’s non-linear trading business.

RBC Investor Services has launched a global middle and back-office platform for listed and over-the-counter derivatives.