Derivs - People and Markets

Indian regulators want to expand the types of over-the-counter derivatives available, but will only do so while improving pre- and post-trade infrastructure and consolidating the regulatory regime to promote financial stability, according to Subir Gokarn, deputy governor of the Reserve Bank of India.

Efforts to weaken proposed European Commission regulations governing derivatives are counterproductive, according to Eric Kolodner, managing director of electronic trading platform Tradeweb.

The U.S. Commodity Futures Trading Commission is investigating Goldman Sachs’ role as clearing broker for an unnamed broker-dealer registered with the U.S. Securities and Exchange Commission.

Morgan Stanley has reached a settlement with U.S. Bank over its role in Tourmaline CDOI and involving a credit default swap agreement with the CDO.

Wells Fargo has announced that it will acquire substantially all the U.S.-based operating assets of Foreign Currency Exchange Corp., a unit of Bank of Ireland.

Munich-based Weissmuller and Sons has named James Hayes as global managing director of inflation products.

MF Global has hired Nicholas Tanner as head of Asian sales.

The Royal Bank of Canada has hired Pat Ward as single stock options trader based in New York.

Regulators of European Union member states are pressing to keep the power to authorize foreign clearinghouse to operate in the region.

Some of Europe’s largest companies have expressed concern that an effort to implement global financial reform will cost them a proposed exemption found in the European Market Infrastructure Regulation.

Credit default swap spreads on Greek sovereign debt widened to a fresh record on concerns that the government’s effort to extend debt maturities will send the country into “selective default.”

Natixis has launched the Natixis Euro High Income Fund, managed by fixed-income specialists Philippa Berthelot and Vincent Mario.