Derivs - People and Markets

The latest proposed text of the European Market Infrastructure Regulation from the European Council’s presidency limits clearing obligations to over-the-counter derivatives, running counter to moves by the European Commission and the European Parliament to encompass all derivatives.

Barclays Capital has hired Benjamin Clerget as a director and index derivatives trader in Hong Kong, according to an official familiar with the move.

UBS has hired Olivier Faure, as an executive director and single stock equity derivative flow trader

Sandler O’Neill + Partners has named Gregory Heher as a principal and Thomas Cullum a managing director in its fixed-income group.

UBS is said to be looking to tap Eric Rosen to head credit trading in the U.S.

JPMorgan has added Ruediger Rohner and Jana Michailova to its London-based credit sales team.

Morgan Stanley has hired ex-Barclays Capital salesman Stephane Babin in Paris to sell rates and credit, both cash and derivatives.

Peter Fung, the former managing director and head of exotics trading for the Asia Pacific at Deutsche Bank in Hong Kong, is being tipped to join Barclays Capital in a similar role, according to officials familiar with the move.

Bank of China has launched a retail equity linked deposit program in Hong Kong, according to offer documents filed with the Securities and Futures Commission.

Société Générale has hired Alan Mittleman to be its head of fixed income trading, including swaps, for the U.S. based in New York.

Chesapeake Energy recorded a first-quarter loss of USD205 million after marking down the value of derivative contracts by USD725 million.

The IntercontinentalExchange has entered into an arrangement with rival CME Group to use its ICE Link straight-through processing software to facilitate credit default swaps clearing through CME.