Derivs - People and Markets

La Jolla, Calif.-based Altegris Advisors has launched the Altegris Futures Evolution Strategy Fund, which the firm says for the first time combines active management of top leading futures managers with an active fixed-income approach.

Jefferies, responding to investor concerns, said it has no credit default swaps hedging its sovereign-debt positions.

Royal Bank of Scotland is planning on further reducing the size of its investment-banking unit as it shift emphasis to its retail and commercial businesses.

The U.S. Securities and Exchange Commission is said to be reviewing convertible bond trades by MF Global to determine whether any advanced confidential information regarding the firm’s downgrade and subsequent bankruptcy was used.

Singapore is considering the launch of an electricity futures market , according to Chee Hong Tat, ceo of the Energy Market Authority.

Skandia Investment Group has rolled out the Skandia Global Futures Fund, its first entry in the futures market.

Little Rock, Ark.-based Stephens has named John Baumgartner as managing director and co-head of equity capital markets along with Wilbur Ellis.

Michael Clarke, global head of counterparty risk operations and market infrastructure strategy at UBS in Stamford, Conn., has left the firm.

Carefully worded public statements that skate around the heart of controversial issues have been the norm for some U.S. industry associations and lobbying groups.

Todd Steinberg is said to have quit as global derivatives head at Macquarie Group just 18 months after joining the Australian firm, as first reported by Derivatives Intelligence.

Commonwealth Bank of Australia is said to have close its proprietary-trading desk in a move to reduced risk-taking.

Cantor Fitzgerald has hired David Pichler as co-head of credit fixed income.