Derivs - People and Markets

Due diligence on central counterparties is key to the risk management of clearing members and their clients, according to a panel at the International Swaps and Derivatives Association’s European conference in London yesterday.

Ram Rao, the former head of fund derivatives sales at Barclays Capital, has joined Macquarie Capital as a managing director in fund-linked products in New York.

Gilliat Financial Solutions has launched the Income Builder—October 2011, its first dual counterparty product.

Royal Bank of Scotland has expanded its investment-banking operations in Asia with several senior appointments.

Troika Dialog has appointed Todd Berman to serve as co-head of investment banking along with Igor Sagiryan.

Paras Anand has announced that he is leaving as head of continental European and pan-European equities at F&C Investments.

Regulators forcing interoperability on clearinghouses may increase the contagion risk G20 leaders hoped to avoid by moving to centralized clearing in the first place, according to panelists at today’s International Swaps and Derivatives Association’s annual European conference in London.

The debt crisis in Europe is said to have prompted the Bank of China to stop trading fx forwards and swaps with a number of European banks.

The Fixed Income Connectivity Working Group, led by 13 dealers and supported by interdealer brokers and electronic fixed income venues, is to look at ways of applying the standard FIX protocol to electronic trading of fx options.

Jefferies has filed suit against International Derivatives Clearing Group alleging fraud and breach of contract involving interest-rate swap futures.

Credit Suisse has named Michael Mollemans as head of advanced execution services for its electronic trading platform in Japan.

JPMorgan Asset Management has expanded its emerging market debt and fx team with the hiring of Nima Tayebi as portfolio manager.