Derivs - People and Markets

Buy-siders say they may miss the deadline requiring them to clear derivatives through central counterparties because of confusion by the timing and nature of the reforms.

George Osborne, the U.K.’s Chancellor of the Exchequer, said Citigroup, UBS, HSBC and Royal Bank of Scotland have been added to the government’s investigation of alleged manipulation of the London interbank offered rate.

The International Swaps and Derivatives Association has asked European regulators to clarify Article of the European Market Infrastructure Regulation on risk-mitigation measures for counterparties for over-the-counter derivatives contracts that CCPs do no clear, calling the existing rules in the directive vague.

Australia fund manager AMP Capital is planning to add an Asian equities team in Hong Kong in September, headed by senior portfolio managers Jonathan Reoch and Patrick Ho.

Cantor Fitzgerald is planning to expand its broker-dealer with the hiring of another 800 workers in coming years, according to Shawn Matthews, ceo of the broker-dealer.

ProShares has introduced the ProShares Short Euro, an exchange traded fund that the firm said is the first to match the return of the euro short against the U.S. dollar over a single day.

Hutchin Hill Capital has followed Saba Capital Management as the second hedge fund to exit trades made by Bruno Iksil, the credit derivatives trader at JPMorgan Chase in London at the center of the investment bank’s recent massive losses.

UBS Global Asset Management has launched on the London Stock Exchange a range of exchange-traded funds containing 66 share classes and replicating 40 indices.

The Royal Bank of Scotland has named David Gray as its first head of its prime services desk for the Asia-Pacific.

David Wright, the recently appointed secretary general of the International Organization of Securities Commissions, plans to develop a research foundation.

Messaging protocols for many over-the-counter products that will be mandated to be cleared are already standardized, according to Philip Whitehurst, director of SwapClear product management at LCH.Clearnet.

Interbank over-the-counter U.S. dollar, Indian rupee forwards, fx swaps and other INR cross currency options will nee to be reported from July 9 to the Clearing Corporation of India’s newly developed trade reporting platform.