Derivs - People and Markets

Cowen Group has named Keith Kurzner and Kyle Solomon as managing directors and co-heads of institutional options and its new event-driven strategies group.

The implementation date for the Dodd-Frank clearing mandate is in the hands of the clearinghouses and will likely be at the start of the second quarter next year, said Gary Gensler, chairman of the Commodity Futures Trading Commission in a keynote speech at the Wholesale Market Brokers’ Association SEFCON II conference in New York today.

Fabien Baetz, a fixed income, currencies and commodities exchange-traded funds structurer, and Petros Stamatopoulos, a FICC structured products marketer, have left UBS in London.

Martin Belvisi, global head of interest rates and foreign exchange structuring at Bank of America Merrill Lynch in London, has left the firm. It could not be determined if a replacement had been lined up.

India’s Insurance Regulatory and Development Authority has decided to allow insurance companies to invest in derivatives for hedging risks only.

David Epstein, head of longevity structuring at JPMorgan in London, has left the firm.

Brett Golledge, European head of trading of credit indexes, index options and corporates at UBS in London, has left the firm.

Dahlman Rose has hired Stephen Parish as managing director for equity capital markets.

Lee Kranefuss, former global ceo of iShares, and Rory Tobin, former ceo of international iShares, have formed ETF Opportunity Partners, a firm that aims to consolidate smaller exchange-traded fund issuers.

India’s HDFC Bank has named Ajay Marwaha as head of trading in its treasury department.

Fear over the rapid development of central counterparties was singled out as the area of major concern as Asia and other regions move forward with derivatives regulations, according to speakers at Futures and Options World Derivatives World Asia 2011 conference in Singapore today.

LCH.Clearnet appeared closer to selecting a buyer as it meets to decide between bids from the London Stock Exchange and Markit.