Derivs - People and Markets

Orc Market Maker has launched a derivatives application for Asia.

Threadneedle has hired Henry Stipp to replace Richard House as manager of the Threadneedle Emerging Markets Bond Fund.

BMO Capital Markets has named Brian Belski chief investment strategist. Belski most recently held a similar position at Oppenheimer & Co.

The Depository Trust & Clearing Corp. has named Michael Bodson to succeed Donald Donahue as president and ceo, effective July 1.

UBS has hired James Forbes as vice chairman for its U.S. investment bank unit.

An idea of a time limit on a sovereign credit default swap position that becomes partially uncovered due to fluctuations in the value of the underlying has been shelved by the European Securities and Markets Authority.

Extraterritorial legislation in the U.S. and E.U. may harm financial competition and restrict cross-border activity, according to a letter sent to the U.S. Department of Treasury and the European Commission April 19.

The U.S. Commodity Futures Trading Commission has included in its just-passed swap-dealer rule a USD25 million limit on swaps with a counterparty that is a special entity, defined as a federal agency, employee benefit plan, or local or state governments.

The Depository Trust & Clearing Corp.’s General Collateral Finance Repo Index, which NYSE Liffe will use when it launches its new futures product in July, is being viewed by market participants as a more creditable alternative to the London Interbank Offered Rate.

Austria-based Lehman Brother Finance has filed suit against Bank of Singapore to collect USD20 million in fees after the Singapore bank terminated derivatives contracts early in 2008.

MexDer, Mexico’s derivatives exchange, is looking to launch clearing for interest-rate swaps beginning in October.

BNP Paribas will close its Australian fixed-income asset-management unit but will continue to offer primary and secondary income services through its corporate and investment banking business.