Derivs - People and Markets

South Korea’s Financial Supervisory Service and the Bank of Korea have announced they are adding at least two banks to its inspection of fx derivatives trading—specifically kimchi bonds--and extending the period for the probe.

Credit hedge fund 400 Capital Management has hired Todd Leih as partner and senior member of its portfolio management team.

Artemis Investment Management has expanded its global equities fund capabilities with the hiring of Alex Illingworth and Simon Edelstein.

Mizuho Securities Asia has tapped Paul McWilliam as managing director and head of syndicate and debt capital markets for Asia-Pacific ex Japan.

Morgan Stanley has hired Ashley Jarvis as global co-head of prime broking consultancy.

MF Global Holdings has expanded its New York-based commodities derivatives trading desk with four new hires.

The International Swaps and Derivatives Association, the International Capital Markets Association and the Association for Financial Markets in Europe have said in a letter that the U.K. regulator should exercise caution before banning any structured products.

BNP Paribas, acting through its Hong Kong branch, has launched a program for non-capital protected unlisted callable equity-linked contracts for single stocks, according to a filing with the Hong Kong Securities and Futures Commission.

BNP Paribas has hired Sebastian Boulan, Michele Backman, Mark Kuhlman, and Stefan Yurica to its equity derivatives desk.

Derivatives dealers and investors expect implementation of regulations related to interest rate swaps to take up to two-and-one-half years, far beyond the projected operational date of the end of 2012.

The U.S. Department of the Treasury will exclude fx swaps from derivatives regulations.

Only about one-third of the 387 sets of rules required by the Dodd-Frank Act have not yet been proposed, as the first deadlines for the regulations in July draw near, according to the law firm David Polk & Wardwell.