Derivs - People and Markets

Rep. Brad Miller (D-N.C.) has responded to reports of a massive credit derivatives trade by a JPMorgan Chase trader by saying proprietary-trading regulations need teeth.

CME Group is said to be considering the launch of a European futures exchange in London to complement its clearing business.

Meteor Asset Management has introduced the latest tranche of its Prima Platinum Plan, which is linked to the performance of the FTSE 100 and S&P 500.

NYSE Liffe has announced that it plans to begin trading futures based on the Depository Trust & Clearing Corp.’s proprietary DTCC GCF Repo Index on July 16, subject to regulatory approval.

Barclays has hired Jonathan Beebe as head of equities trading, effective next month.

JO Hambro Investment Management has expanded its global equities team with the hiring of Peter Rutter.

Investec Asset Management has hired Victoria Harling as co-portfolio manager for its Emerging Markets Corporate Debt Strategy.

HSBC has expanded its debt capital markets team with the hiring of Michael McCormick and Hugo Moore to serve as global covered-bond product sponsors.

Tim Joyce, an executive director in fx options trading at JPMorgan in London, has left the firm.

There are no novel regulatory rules being prepared in Brazil, according to Sergio Odilon dos Anjos, head of the financial system regulation department at the Central Bank of Brazil.

Brazilian corporations are wary of changes to the financial operations tax (IOF) in the country, despite being given a reprieve from the tax on foreign exchange derivatives used to hedge exporting exposures.

Morrison & Foerster has hired three new partners to its Capital Markets Group focusing on structured finance.