Derivs - People and Markets

Barclays Capital has hired Mohamed Ali Bacha, the ex-head of equity derivatives trading at Nomura in London, to the same position covering Europe, also based in London.

Investigators are said to be focusing on what they claim is MF Global’s borrowing of client funds—without putting up sufficient collateral--to pay for bad investments, suggesting that the estimated USD600 million that has been unaccounted for is not just missing but may be gone.

Direct access to central clearinghouses and linkages between CCPs will be good for the market, says the Bank for International Settlements, but CCPs will also need to make extensive changes to their structures to mitigate risks.

Credit Suisse is shutting down its fixed-income operations in Taiwan, but will continue to offer brokerage services.

HSBC has let go three fx sales people in London and New York as part of its effort to lower costs.

Laurence Fink, ceo of BlackRock, has attacked providers of synthetic exchange-trade funds for putting investors at risk by not telling them what they really are.

Brazil’s BM&FBOVESPA has retained Calypso Systems to register and manager its over-the-counter derivatives operations.

Invesco has hired Gregory McGreevey as head of fixed income, effective Nov. 28.

PIMCO has hired Riccardo Rebonato as executive v.p. and head of rates and fx analytics, effective Dec. 1.

Mike Gore, a London-based credit default swap trader at HSBC, has left his position.

Scott Malia, a member of the U.S. Commodity Futures Trading Commission, said the collapse of MF Global demonstrates a need for regulation that would require derivatives brokers to disclose details about their proprietary trades.

Big traders of credit derivatives have disclosed shareholders the total amount they have sold in credit default swaps on debt globally, but won’t reveal details as to how much for which countries.