Derivs - People and Markets

David Knott is leaving as co-global head of flow fixed income and currencies at Société Générale Corporate and Investment Banking, a position he has shared with Christophe Coutte since last March.

Royal Bank of Scotland is said to be preparing to slash 3,000-4,000 investment banking jobs as part of its restructuring into a retail bank.

Benjamin Welsh, formerly a head of foreign exchange sales at Goldman Sachs and head of currency trading and sales for North America at HSBC, has joined Jefferies as managing director and head of fx based in New York

Morgan Stanley has seen departures in its equities and fx derivatives teams over recent days as it performs a year-end management review.

CBOE Futures Exchange has announced that it will launch trading in security futures on the CBOE Emerging Markets ETF Volatility Index, pending regulatory approval.

CME Group has certified Traiana Harmony for clearing over-the-counter fx derivatives through its Harmony CCP Connect after it became the first firm to complete CME’s certification process.

Legal & General Investment Management has teamed up with exchange-traded fund provider Source to launch the LGIM Commodity Composite Source ETF.

GFI Group has appointed Neil Standen to head its new Swiss office in Nyon.

LCH.Clearnet has appointed Emanur Rahman as head of liquidity and collateral management.

Pat Lynch and Fernando Ortega have left as heads of Morgan Stanley’s European credit trading and emerging-markets fixed-income sales and trading, respectively, as part of the investment bank’s previously announced staff reduction.

Yen-denominated interest rate swaps will be the first asset class to trade on the Japan’s planned electronic platform for over-the-counter derivatives when the system starts operating.

Natixis is said to be considering a reduction in its corporate and investment-banking operations as it shrinks some of its businesses outside of its native France.