Derivs - People and Markets
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An International Accounting Standards Board review of credit risk hedge accounting standards for credit derivatives will likely make it easier for firms to account for credit default swaps in Japan.
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361 Capital has introduced its 361 Capital Systematic Index, which the firm said “systematically generates technical indicators against price and volume trends on equity indexes.”
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Annual revenue from equities trading at Citigroup plunged from USD2.4 billion to USD1.3 billion mostly from its equity derivatives and proprietary trading units.
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Barclays Capital and Deutsche Bank remained at the top in global fixed income in market share in 2011, followed by JPMorgan Chase, according to Greenwich Associates.
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David Kotz is leaving as inspector general of the U.S. Securities and Exchange Commission at the end of this month after four years to join a private investigative services firm.
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JPMorgan Chase has shuffled the head of its Asia-Pacific equity- capital markets and derivatives operations.
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Morgan Stanley has dropped four executive directors in fx and rates derivatives sales in New York. Thomas Doyle and David Zakaiem were let go in FX derivatives sales, while Noel Freeman and Tony Lopiccolo left from the rates group.
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Eurozone bans on short selling appear to be doing more harm than good, according to a study by Cass Business School of 30 countries with such regulations.
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Rohit Bansal and Chris Yanney are said to have left as heads of distressed-debt trading and high-yield bond trading, respectively, at Citigroup as part of its credit-trading desk shake-up in North America.
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Spain’s Banco Bilbao Vizcaya Argentaria has slashed its Asia equity derivatives team by more than half.
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Nomura has named Steven Ashley as global head of fixed income. Ashley joined the Japanese firm in May 2010 from Royal Bank of Scotland, as global head of macro products.
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Pension funds, insurance companies and asset managers face the largest increases in fx cash and derivative transaction costs should a financial transaction tax be implemented in Europe.
