Derivs - People and Markets

Barclays has named Anthony Salz, an attorney and former investment banker, to conduct a thorough review of the bank’s culture following the scandal involving alleged manipulation of the London interbank offered rate.

India’s National Stock Exchange has dropped 51 stocks from its futures and options segment after regulators revised eligibility criteria.

Banks that engage in proprietary trading should not benefit from a government backstop, according to Federal Reserve Governor Sarah Raskin, who said in a speech she views “proprietary trading as an activity of low or no real economic value.”

Bank of America Merrill Lynch has named Elizabeth Hammond to succeed the departing Justin Fredericks as head of U.S. capital strategy.

Alan Sharkey, a senior official in distressed credit sales at Goldman Sachs in London, has left the firm and is set to join hedge fund Angelo, Gordon & Co.

China’s National Association of Financial Market Institutional Investors has prepared and internally approved changes to its definitions of domestic fx and interest rate swaps, which could be instituted soon, according to lawyers.

Registered financial institutions wanting to clear credit default and interest rate swaps in Japan should have a net market capitalization of not less than JPY100 billion (USD1.28 billion) and maintain a capital-to-risk ratio of between 200-and-250%, depending on credit rating, according to the Japan Securities Clearing Corp.

The Singapore Exchange has enhanced regulations to protect derivatives market against systemically destabilizing events, including the possibility that multiple members default.

BNY Mellon has appointed Wim Hautekiet to succeed Paul Bodart as ceo of the Bank of New York Mellon, its European banking entity.

Urs Rohner, president of Credit Suisse, said the bank has no plans to sell its investment-bank units.

Credit default swaps spreads on Spanish sovereign debt widened 31 basis points to a record 636 bps because of investor concern over whether the recently approved bailout will ease the country’s problems.

The Stock Exchange of Thailand and Korea Exchange have entered into an agreement to upgrades clearing and settlement systems.