Derivs - People and Markets

The Organization for Economic Co-operation and Development has called on debt management offices to review their policies on collateralization and clearing of derivatives trades.

The London Stock Exchange is in talks with U.K. regulators about launching a trade repository to handle over-the-counter derivatives.

Morgan Stanley announced plans to cut an estimated 1,600 jobs amid a 45% decline in the investment bank’s share price this year.

Credit Suisse is planning to merge the operational functions of its private banking and investment banking divisions into a single entity, headed by Gary Bullock, effective Jan. 1.

JPMorgan Chase has debuted its J.P. Morgan Next Generation Markets Index, which the bank said “provides exposure to non-investment grade rated, smaller, less liquid population of emerging market economies.”

The scope of Japan’s domestic clearing obligations should be limited to yen interest rate swaps based on LIBOR, basis swaps and credit default swaps on iTraxx Japan, according to the International Swaps and Derivatives Association.

A five-day hearing before the U.K. Court of Appeal involving the payouts under the International Swaps and Derivatives Association’s master agreement got under way Wednesday.

Invesco’s new Invesco Premium Income Fund will use derivatives for risk management, portfolio management, earning income, managing target duration, gaining exposure to a particular asset class or hedging its exposure to non-U.S. currencies.

Credit default swaps on bond insurer MBIA narrowed by 8.6 percentage points to 36.1% upfront after the announced settlement with Morgan Stanley, which would terminate

Barclays Capital remains No. 1 in European fixed income in market share in overall institutional trading volume, according to Greenwich Associates.

Thailand’s Securities and Exchange Commission is exploring the possibility of introducing water derivatives to provide investors with a hedge against disasters such as the worst flooding in the country in 70 years.

Crédit Agricole is said to be planning to cut an estimated 2,350 jobs next year, with most of them in corporate and investment banking.