Derivs - People and Markets

First Derivatives has announced the formation of a dedicated data-management solutions division.

Eurex Clearing has debuted its Individual Clearing Model, the first major element in a new suite of client-segregation services.

The Singapore Exchange has announced that Hong Kong-based futures brokerage GF Futures has become its first Chinese derivatives trading member.

BTIG has further expanded its New York-based fixed-income group with the hiring of William Freihofner, Jeffrey Gould, Kevin McDonald, Mayank Patel, and William Tillinghast for high-yield and convertible sales.

Catena Technologies has named Aaron Hallmark as head of trading and risk management solutions as the Singapore-based technology consultancy moves to strengthen its over-the-counter derivatives services.

UBS has launched a non-capital protected retail equity-linked structured product program in Hong Kong. These

Sergio Kostek, head of Latin American local markets trading at Royal Bank of Scotland, has left the firm.

Back-testing of a structured product can be a useful tool for investors, as long as the issuers ensure the tests are not viewed as a “predictive measure,” and that they don’t “cherry pick” the time period to make products appear better, according to Frank Copplestone, head of retail structured products for Europe, the Middle East and Africa at Morgan Stanley.

Barclays Capital has launched its first dynamic volatility product, exchange-traded note linked to the S&P 500 Dynamic VIX Futures Total Return index.

Citigroup has expanded its credit markets trading, structuring and commodities teams in India with several new hires.

Bank of America is said to have lost two top members of its Asia capital markets team with the departure of Michael Luk, head of debt capital markets for Asia-Pacific and Andrew Cooper, head of corporate finance and structured equity-linked products.

Danske Bank has become the first Nordic financial institution to become a member of LCH.Clearnet’s Swap Clear service for over-the-counter interest rate swaps.