Derivs - People and Markets

Royal Bank of Scotland has hired Ed Mount to the new position of head of fx technology-based trading.

Pramod Kumar is said to have left his position as managing director at Citigroup India’s investment banking unit to join rival Barclays Capital.

Credit Suisse is looking at setting up a cash and derivatives inflation trading desk in Singapore within a year in response to global investor demand for the high yields in that market.

Law firm Clifford Chance has expanded its derivatives and structured finance practice in Australia, hiring a former professional away from HSBC.

Technical problems have forced CME Group to delay the launch of its dollar/renminbi futures, originally scheduled for Aug. 22, until Oct. 17.

UBS says it plans to cut 3,500 jobs to help reduce some CHY2 billion (USD2.54 billion) from its annual expenses, with nearly half of the staff reduction will be in investment banking.

Gleacher has announced that it is exiting the equities business and focusing on fixed income as part of its new strategic plan.

India’s BSE plans to begin market making in futures options within the next four to six weeks. In June, the Securities and Exchange Board of India permitted market making in illiquid equity derivatives.

The New Zealand Stock Exchange is considering an expansion of its offering beyond dairy futures to include additional futures.

Barclays Capital India has named Bhuvnesh Singh as head of equity research and Neel Shahani as head of equity sales trading for its new equities business.

BNY Mellon Capital Markets has expanded its short-term fixed-income desk with the hiring of Daniel Hill and Joseph Russo.

JPMorgan is planning to debut a diversified multi-income fund Sept. 12 that will invest largely in high-yield classes.