Derivs - People and Markets

Bank of America Merrill Lynch has hired James Fleming as managing director.

BNP Paribas has hired Josh Farber to trade credit indices in London. He started in the position at the end of April.

The 14 central counterparty platforms launched in response to new regulation on over-the-counter derivatives clearing are unlikely survive for long, according to a recently released whitepaper by Joe Anastasio and Pramod Achanta, partners at Capco.

Introducing brokers may face major regulatory headaches unless the Commodity Futures Trading Commission takes action before the first anniversary of the Dodd-Frank Act, according to Kenneth Kopelman, partner with Bingham McCutchen.

Dealers say a 50% of notional collateral requirement for corporates in China when selling credit protection to banks will make that sect of the market too expensive and unworkable.

Jubilee Financial Products has rolled out its Regular Income Plan 8, linked to the performance of the FTSE100.

Richard Ketchum, chairman and ceo of the Financial Industry Regulatory Authority, said structured products are an “area of concern.”

Jefferies has expanded its global equities team again with the hiring of Sean Huang as head of securities finance trading in Asia.

CRT Capital Group has established a capital markets group, which will cover debt and equity origination services and liability management advice.

Global Forex Trading has expanded its online fx and derivatives trading business to the Gulf region with the opening of an office in Dubai.

The Reserve Bank of India has set Oct. 23 for the launch of credit default swaps, and has issued final guidelines that, among other things, lowered the minimum capital market makers needs to buy CDS from a 12% risk assets ratio to 11%.

Pension funds and nonfinancial corporates won exemptions from central clearing under the European Market Infrastructure Regulation in today’s vote in the European Parliament’s Economic and Monetary Affairs Committee.