Derivs - People and Markets

The China Banking Regulatory Commission has defied market expectations by passing up the opportunity to outline its position on China’s nascent credit derivatives market, reinforcing fears that the market could be shuttered or be subject to a change in rules.

Advisors to major derivative firms are offering different strategies in the wake of Dodd-Frank provisions that pertain to corporate governance and legal structure.

Using credit default swap spreads to accurately predict future defaults has had mixed success across various sectors, according to Fitch Ratings.

Democrat members of the House of Representatives have criticized a Republican-led measure to delay implementation of derivatives regulations 18 months to the end of 2012.

Credit default swap spreads on Greek sovereign debt narrowed on reports that the country is close to an agreement for additional loans from the European Union and International Monetary Fund.

The U.S. Securities and Exchange Commission has launched an investigation into State Street’s fx trading on behalf of pension funds, according to the firm’s regulatory filing with the SEC.

Baring Asset Management has named Wilfred Sit to the new position of cio of Baring Asset Management Asia and head of its equity team.

Italian police have seized EUR17 million (USD24 million) of asst from BNL, a local unit of France’s BNP Paribas, as they continue their inquiry into derivatives sold to local government.

The International Swaps and Derivatives Association Rates Steering Committee has selected the Deposit Trust & Clearing Corp. to serve as interest-rate trade repository.

Bank of America Merrill Lynch has teamed up with ETF Securities to launch the ETFX-BoAML IVStoxx ETF, a European equity volatility product, in Germany.

UBS has named Ross Baildon as head of syndicate for equity capital markets in Asia.

The Basel Committee on Banking Supervision at the Bank for International Settlements today issued its final report giving recommendations on how to align risk and performance through compensation.