Derivs - People and Markets

Gilliat Financial Solutions boosted the value of its defensive approach by pointing to the success of its Gilliat Annual Kick Out –June 2010, which is maturing and paying investors 10.75% and 8.75%, depending on the options they chose.

Andreas Klainguti, global head of equity trading at Standard Chartered in Hong Kong, has left the firm.

Canadian Imperial Bank of Commerce is planning to beef up its equity derivative flow sales division in the Americas and has hired a senior salesman to lead the expansion.

Thomas Leveille Nizerolle, a financial engineer in the financial institutions advisory team at Société Générale in Paris, has left the firm.

Nomura International has hired Jean-Marc Alexis as a structured products solutions specialist.

The U.S. Securities and Exchange Commission has launched an investigation into the role played by Royal Bank of Canada units in the sale of USD200 million in derivatives to five Wisconsin school districts in 2006.

Three-month credit default swaps spreads on top U.K. banks widened sharply, in some cases to records.

Rencap Securities has hired Richard Lumelleau to head equity sales for North America.

Mona El Isa, a former top proprietary trader at Goldman Sachs, has joined the Swiss hedge fund Jabre Capital.

Smaller gains from derivatives sent second-quarter profits at bond insurer MBIA down 89% from a year earlier.

IntercontinentalExchange announced that it will launch 21 over-the-counter North American emissions contracts as it is closing the Chicago Climate Futures Exchange, its emissions derivatives trading platform, at the end of the first quarter of 2012.

Singapore-based R-SQUARED scooped up put options and credit default swaps as the Japanese-focused hedge fund anticipated a downgrade of U.S. sovereign debt by Standard & Poor’s.