Derivs - People and Markets

Deutsche Bank’s db X-Trackers has launched a range of eight exchange-traded funds that give investors exposure to North American high-yield and corporate credit markets.

U.S. fx agency broker FXCM has agreed to acquire a 50% stake in London.-based Lucid Markets, a private proprietary trading group.

UBS has appointed Jason Barron head of financing services, a new unit from the merger of prime brokerage and global synthetic equities.

Guy Wylie has left as head of debt capital markets for Asia at UBS after two years in the position.

Polar Capital is launching its first global equity fund, to be managed by Andy MacKirdy and Christophe Williams.

The Hong Kong Monetary Authority introduced Friday a liquidity facility for authorized institutions dealing in China yuan-denominated bonds and fx forwards. It has also replaced its CNH risk management limit with a liquidity ratio for monitoring RMB liquidity positions.

Citigroup is reworking its equity derivative flow trading management in Hong Kong after a series of hires and departures. The latest arrival is Robert Webb, a former founding partner at Singapore-based volatility hedge fund RSR Capital. He will head the equity-linked index flow desk in Hong Kong.

The Commodity Futures Trading Commission is planning to give the industry guidance on Dodd-Frank extraterritoriality provisions. It will also phase-in compliance for foreign institutions on entity-level definitions over the course of an additional year, Gary Gensler, chairman, said in a lunch speech at the Institute of International Bankers.

Roger Naylor, head of global equity derivatives and global head of equity risk at Deutsche Bank in London, has resigned from the firm and is set to join UBS in a new role.

Morgan Stanley has launched the Morgan Stanley FTSE Defensive Digital Growth Plan 7 and the Morgan Stanley Defensive Bonus Plan 3, structured products that aim to protect investor in bear markets.

Harvest Alternatives Investment Group has partnered with a team led by Gregory Park, former head of securitized products in Asia at Deutsche Bank, to form Harvest Northstone Capital, an Asia-focused structured credit fund.

AXA Investment Managers has launched the AXA WF Framlington LatAM Fund, a Luxembourg-domiciled SICAV managed by Julian Thompson.