Derivs - People and Markets

FBR has named Kenneth Slosser as head of investment banking to succeed James Neuhauser, who has been appointed executive v.p. and cio.

A proposal from the Bank of International Settlement’s Risk Management Group to alter the current exposure method—or CEM--for qualifying central counterparties, also known as licensed CCPs, has been opposed by industry associations.

Thomas Nahm, head of equity exotics trading at the Royal Bank of Scotland in London, has left the firm.

Michael Riley, co-head of equity derivatives trading for the Americas at UBS in Stamford, Conn., has left the firm.

CME Group said that it cleared its first customer fx over-the-counter non-deliverable forward trade on April 27.

NYSE Euronext reported a 44% decline in profits in the first quarter in part because of a slowdown in derivatives trading.

Eris Exchange has teamed up with CME Group to introduce margin offsets, which will allow clients to use the same capital for a variety of interest-rate derivatives traded on both exchanges, for savings of up to 95% for portfolios of highly correlated positions.

Kames Capital has hired Claire McGuckin as an investment manager covering high-yield bonds in its fixed-income team.

A growing number of small and medium-size enterprises in the U.K. are retaining foreign specialist lawyers to represent them in their efforts to get out of derivatives contracts, which they claim were mis-sold to them.

Lawmakers must introduce legislation that is product and asset specific in the Markets in Financial Instruments Directive, according to Kay Swinburne, member of the European Parliament.

Dutch housing association Stichting Vestia Groep has agreed to unwind some of its derivatives contracts after it needed a bailout because of declining interest rates that triggered losses on the instruments.

Deutsche Boerse said its appeal of the European Commission’s ruling to reject the German exchange’s proposed merger with NYSE Euronext could take between 18 months and three years.