Derivs - People and Markets

UBS is said to be hiring bankers and traders to its fixed-income group, which has been by several departures recently.

UBS is said to be considering moving its investment-banking unit outside Switzerland to meet demands from regulators to separate the business.

The Swedish bank SEB has joined the Singapore Exchange as a clearing and trading member, effective immediately.

BNP Paribas has hired Sam Shi as sales director of greater China for asset owners and asset managers, which will incorporate derivatives products.

India should have a local over-the-counter derivative trade repository, despite arguments from the industry for global trade repositories, according to the Reserve Bank of India’s working group on reporting of OTC interest rate and fx derivatives.

Frederic Valmorin, a former senior equity derivatives index trader at Nomura in London, has joined Citigroup as a director in Eurostoxx trading, also in London.

UBS has hired Pulkit Gambhir as a correlation trader in London.

Rep. Spencer Bachus (R-Ala.) denied that the 18-month delay to implement tougher derivatives regulations, which was approved Tuesday by the House Financial Service Committee, is an effort to weaken them.

Michel Barnier, the European Union’s commissioner for internal market and services, told the European Parliament that he will propose rules aimed at curbing speculation in derivatives.

South Korea’s Financial Services Commission is looking to increase penalties for those engaged in stock manipulation and insider trading.

Cantor Fitzgerald is looking at developing a property derivatives market linked to rents in individual buildings to allow landlords and tenants to hedge against unexpected market swings, according to Howard Lutnick, the firm’s ceo. Click here to read the story from The Wall Street Journal

Spain’s Banco Bilbao Vizcaya Argentaria is said to have hired Gerrard Katz as head of fx trading for Asia.