Derivs - People and Markets

Investment Technology Group has debuted a suite of algorithms specifically for investors seeking to take positions or hedge portfolios using futures.

Scoach Switzerland has become what is believed to be the first exchange in the world to offer trading in gold structured products.

UBS has boosted its fx desk in Tokyo with the hiring of three executive directors: Toshimasa Fujii, most recently with Barclays, as head of e-commerce sales; John Shen-Nagakura from Société Générale, as head of FX corporate sales; and Ko Haruki from Goldman Sachs, as head of real-money sales.

Baring Asset Management has hired Michael Simpson as head of Latin American equities.

French co-operative banking group BPCE overstated its derivatives exposure to France by EUR3.4 billion (USD4.62 billion) when submitting data to the European Banking Authority for its latest round of stress testing in the region.

Paul Lewitt, Lloyds TSB’s London-based head of credit trading, has recently left the firm.

A proposed Dodd-Frank Act rule requiring firms to post initial margin on uncleared over-the-counter interest rate derivatives could result in USD1.4 trillion in new capital charges, according to Paul Rowady, senior analyst at research and advisory firm TABB Group.

Commerzbank’s Corporates and Markets flow trading desk in Frankfurt has begun quoting over-the-counter vanilla single stock products, in addition to such quotes provided by its exotics, vanilla and funds desk.

Arran Rowsell, managing director and head of European flow credit trading at Credit Suisse in London, has left the firm.

Greece maintained its first-place ranking among countries with the most risky sovereign debt in CMA DataVision’s third-quarter credit risk report, with a 90.8% risk of default.

Cowen Group has appointed Jeffrey Solomon, coo and head of investment banking, as ceo.

The U.K.’s Post Office has introduced its third inflation-linked bond, which offers investors a choice of three-year and five-year fixed terms.