Derivs - People and Markets

South Korea’s Ministry of Strategy and Finance has announced that local brokerages will be permitted to deal with fx derivatives based on raw materials and other commodities without having to report the trades to government authorities, while securities firms will be able to trade fx derivatives based on ocean freight chargers, weather and other natural conditions after filing with the Bank of Korea.

Barclays led all dealers in global fx, followed by Deutsche Bank, Citigroup, UBS, HSBC and JPMorgan, according to Greenwich Associates.

Credit Suisse is said to be preparing to announce it will cut 5,000 investment-banking jobs when it releases its first quarter results April 25.

Deutsche Boerse has filed an appeal of the European Commission’s veto of its proposed merger with NYSE Euronext, saying it is not seeking to reverse the ruling put to prove the E.C.’s analysis was erroneous.

Brazil’s BM&FBOVESPA and the Santiago Stock Exchange have teamed up to develop the Chilean derivatives market at the latter.

Nasdaq has proposed that the U.S. Securities and Exchange Commission permit issuers of exchange traded funds to pay market makers USD200 a day to be more aggressive about quoting their shares, a practice that is currently illegal in the U.S.

Cantor Fitzgerald has named Charles Cortellesi and Erich Bauer-Rowe co-heads of emerging markets. Cortellesi and Bauer-Rowe both previously worked at Jefferies.

Citigroup reported USD4.7 billion fixed-income revenue in the first quarter, sharply higher than the USD1.7 billion posted in the fourth quarter and higher than the USD4 billion a year earlier.

Standard Chartered has hired Ken Olson as managing director and global head of equity-linked solutions. Olson previously worked at Bank of America Merrill Lynch in Japan.

SuperDerivatives has launched eValueX multi-asset portfolio valuation platform, which the company said was created to maximize over-the-counter transparency.

Stanley Rowe, managing director and head of Latin American equities at Barclays Capital in New York, has left the firm and is on gardening leave until June.

Central counterparties should have margin systems that establish levels that correspond with the risks of derivatives and their portfolios, according to a new document on financial market infrastructures published by the Committee on Payment and Settlement Systems and the International Organization of Securities Commissions.