Derivs - People and Markets

Société Générale has launched UK Autocall 10, a six-year structured product linked to performance to the FTSE 100 index.

The Hong Kong Securities and Futures Commission has hired Ron Chiong, the ex-head of single stock volatility trading at Standard Chartered in Hong Kong, as a senior manager in risk and strategy, a newly-created role.

Dion Global Solutions has hired Robert Gray to spearhead the roll out of differentia, its new multi-asset class pricing, valuation and risks management tool for over-the-counter derivatives.

Hong Leong Finance has filed a lawsuit in New York against Morgan Stanley, charging the investment bank misled it about the safety of roughly USD72.4 million in structured notes that the Singapore-based firm agreed to distribute between August 2006 and December 2007.

Chicago-based online options broker Optionshop has named Bob Fitzsimmons as ceo.

Prudential Fixed Income has expanded its global macroeconomic research team with the hiring of Gerwin Bell and Giancarlo Perasso as head of economic and country research for Asia and emerging Europe, the Middle East and Africa.

Obligating clearing members to offer indirect clearing is likely to decrease competition and increase counterparty risk, according to an industry response to the European Securities and Markets Association.

The Global Financial Markets Association has tapped David Ngai in a new role as managing director of the global fx division for Asia Pacific.

Structured finance attorney Keith Krasney joined Locke Lord LLP as a partner and chair of the firm’s Securitization and Structured Finance group in the firm’s New York office, and is in talks to pick up other partners, associates and of counsel. Krasney, who led the securitization team at Nixon Peabody LLP, was also a partner at McKee Nelson LLP from 2005 to 2009.

Regulators are examining communications between Philippe Moryoussef, a former swaps trader at Barclays, and Rabobank over alleged manipulation of Euribor, the European Union’s interbank offered rate.

U.S. trading volume of options fell 11.89% in July from a year earlier, while year-to-date volume was off by 6.81% from 2011, according to the Options Trading Council.

Jose Cogolludo has left as global head of sales and marketing for commodity derivatives at BNP Paribas to become global head of commodities sales at Citigroup in London.