Derivs - People and Markets

The Securities and Exchange Board of India has announced that stock exchanges may introduce one or more schemes to enhance liquidity in their equity derivatives segments.

Markit is said to be poised to gain a major stake and control in the over-the-counter derivatives business, if NYSE Euronext succeeds in its bid for LCH.Clearnet.

Standard Chartered has hired Michele Wee for the new position of global head of electronic sales across the firm’s fixed-income, fx and commodities businesses.

Schroders has named Rajeev de Mello to succeed How Phuang-Goh as head of fixed income in Asia.

A number of major banks have formed a working group to campaign for using the Financial Information Exchange protocol for fixed-income derivatives and cash trading.

LCH.Clearnet is said to have hired Susan Milligan as head of U.S. public affairs, its first lobbyist based in Washington, D.C.

Bank of America Merrill Lynch has hired Peter Fung, the former managing director and head of exotics trading for the Asia Pacific at Deutsche Bank in Hong Kong. He joins as a managing director in equity derivatives trading, a spokesman confirmed.

Central counterparties are becoming systemically important to the global financial system and should do more to monitor their clearing members, according to Paul Tucker, deputy governor of the Bank of England.

Lehman Brothers Holdings estimated its proposed settlement of derivatives claims could reduce the total from USD22 billion to USD10 billion.

Macfarlanes, the U.K. law firm, has hired Rachel Kelly as a structured-finance and debt-capital markets partner, effective next month.

RBC Capital has appointed Jerry Wiant as co-head of U.S. financial institutions group to work alongside Henry Michaels.

AllianceBernstein has rolled out the RMB Income Plus Portfolio, a UCITS-compliant bond fund that will invest in renminbi bonds issued outside China and bonds from elsewhere in Asia excluding Japan.