Derivs - People and Markets
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Macquarie Group is said to have closed its Latin American fixed-income operations and that John Welch, the bank’s chief emerging-market strategist, was among those who were let go.
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Mizuho International has expanded its European primary debt markets team with the hiring of Andrew Sweeney, Borja Zamorano, Giso van Loon and Armand de Cosnac.
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Renaissance Capital has named Soroosh Shambayati as managing director and global co-head of markets in charge of fixed income, currency and commodities.
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Sam Cowan, portfolio manager and head trader at Cairn Capital in London, left the fund manager last week, according to a market official.
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Industry officials are concerned how the implementation of swap execution facilities under Dodd-Frank will bring stability to the derivatives market.
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The International Swaps and Derivatives Association is planning a second study on block trade thresholds in the context of swap execution facility implementation.
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Fx algorithms are expected to account for more than 25% of fx trade volume by the end of 2014—up from 7% as of Dec. 31, according to Aite Group.
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The International Swaps and Derivatives Association has teamed up with S&P Indices to co-brand S&P’s existing credit default swap indices as S&P/ISDA CDS Indices.
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The North American Derivatives Exchange has released a daily Volatility Sentiment Index number for each of the key asset classes on which it bases its binary option contracts.
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The VStoxx Index, which tracks the cost of options protecting against losses on the Euro Stoxx 50 Index, rose 7.5% to 53.55 basis points, while the VIX closed 14.96 bps below that benchmark, for the widest gap between the two volatility indices since October 2008.
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InterncontinentalExchange is expected to name Ben Jackson, the coo of ICE Futures, to succeed Thomas Farley as president of the exchange later this year.
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UBS has appointed Paul Lambert as head of fx and fixed income at the bank’s operations in the U.K. as well as portfolio manager for its Currency Alpha Fund and other currency strategies.