Derivs - People and Markets

Wolfgang Schaeuble, Germany’s finance minister, is said to be planning to press the governments of European Union member states to ban trading of naked credit default swaps on their countries’ sovereign debt.

The Hong Kong Monetary Authority has announced that it is planning to develop an offshore spot yuan fixing rate this year as a benchmark for derivatives based on the Chinese currency.

Brazil’s BM&FBovespa and CME Group are planning an August launch of a new electronic trading platform.

The Hong Kong Monetary Authority has completed its investigation of more than 99% of the 21,785 complaints related to structured notes issued by Lehman Brothers.

UBS Global Asset Management has expanded its Australian fixed-income team with the hiring of Ben Squire as head of credit research for Asia-Pacific.

Securities and derivatives markets operator BATS Global Markets has filed for an initial public offering.

BlackRock has named Andrew Swan as cio of Asia fundamental equities, succeeding the retiring Nick Scott.

Bank of America has appointed Fabrizio Gallo as co-head of global equities with Mike Stewart and as Europe, Middle East and Africa global markets.

BTIG has retained JPMorgan Clearing as a clearing agent and custodian for its prime brokerage platform.

The National Futures Association has started building an infrastructure for overseeing swap dealers in anticipation of being handed some of the regulatory reins for the market.

Gabriel Roberts, a senior credit derivatives trader at Deutsche Bank in New York, has left the firm and is headed to Citigroup for a new role in London.

A proposed rule by the U.S. Commodity Futures Trading Commission that would require trades to be confirmed in a short period of time will create hardships for end users, according to panelists at the Markit Evolving OTC Market Landscape conference in London yesterday.