Derivs - People and Markets

South Africa’s Rand Merchant Bank has announced it will close its proprietary-trading desk and combine its fixed income, fx, commodity and equity-trading units.

BNP Paribas said Jared Epstein has left as head of flow credit trading, a position he held since joining the French bank in June 2009.

U.K.-based Sterne Agee has expanded its financial institutions of investment banking group with the hiring of John Hamel, Gerhard Erdeji and Aaron Sharabaika as managing director, v.p. and investment banker, respectively.

Sen. Carl Levin (D-Mich.) has opened up a new front in his war against mutual fund commodity investments by asking the Securities and Exchange Commission to get involved.

Goldman Sachs is said to be considering introducing electronic trading to its fixed income currency and commodities business.

Piyush Gupta is leaving JPMorgan Chase as head of fixed income and debt capital markets in India.

Aziz Nahas has left as cio for equities at Lombard Odier Investment Managers.

Nasdaq OMX has said that regulatory uncertainty over derivatives has prompted it to delay offering European customers a choice of clearing venues for their trades.

S&P Capital IQ has debuts is fixed-income transparency offering, which can be accessed through enhancements of its valuation and data portal.

The House of Representatives overwhelmingly passed two bills aimed at relaxing some derivatives regulations in a show of bipartisan support.

Lucas Nowak, a sterling and euro credit trader at BNP Paribas in London, has left the firm.

Legislation limiting commissions on retail structured products has Australian financial advisors in a tizzy, with some suggesting they would reduce the amount of structured products offered which could in turn force issuers to find alternative distribution channels.