Derivs - People and Markets

Hong Kong-based China Asset Management has announced plans to launch what is believed to be the first exchange-traded fund in the territory to offer direct exposure to China shares.

Legal & General has launched its Growth Plan 8 and 6 Year Growth Deposit Bond 15, two structured products linked to the future performance of the FTSE 100.

Utah-based corporate fx brokerage GPS Capital Markets has opened an office in London, its first outside the U.S.

Citigroup has reassigned former proprietary trader Ramakrishna Putcha to be co-portfolio manager of an estimated USD200 million internal credit hedge fund in its Citi Capital Advisors unit.

Deutsche Bank has hired Piers Murray as global head of fixed income prime brokerage in its markets clearing business, beginning in September.

UBS has completed a securitization of a portion of its derivatives counterparty exposure, while Credit Suisse is said to be considering the same as a way to boost capital.

Marcus Agius has resigned as chairman of Barclays over the bank’s involvement in the alleged manipulation of the London interbank offered rate.

ALPS Holdings has launched the ALPS Sector Dividend Dogs ETF, a high-yield large-cap equity income exchange-traded fund.

Derivatives traders remain bearish regarding the euro against the U.S. dollar over the next 12 month despite a surge in currency after the European Union approved easing aid rules for Spain and Italy.

The American Petroleum Institute has called on the U.S. Commodity Futures Trading Commission to further ease position limits beyond those the CFTC proposed last month, calling the current proposal arbitrary.

Two-thirds of institutional investors said they predict a sharp decline in equity markets over the next 12 months, according to a survey by Allianz Global Investors.

The Royal Bank of Scotland will likely face a GBP150 million (USD234 million) fine for its alleged involvement in manipulating the London interbank offered rate, about half the size of penalty imposed on Barclays last week.