Derivs - People and Markets

BMO Capital Markets has moved to centralize its balance sheet and risk managements across all its business lines.

Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, said the swap rules being written under the Dodd-Frank Act will “bring tangible benefits to the real economy.”

UBS has acquired the Luxembourg Financial Group, a special asset manager and structured products boutique in a deal valued at USD36.2 million.

Deutsche Bank has expanded its capital markets and treasury solutions group with the hiring of Michael Halsband as a director.

The International Swaps and Derivatives Association is calling for the industry to establish a standardized way of representing centrally cleared or electronically traded derivatives, and a central registry to collect and disseminate that information.

Scott O'Malia, commissioner at the Commodity Futures Trading Commission, questioned the commission’s margin proposal that seems to require individual segregation of customer margin accounts for over-the-counter derivatives.

PRAGUE -- The European Securities and Markets Authority will determine which derivatives entered into before clearing was required will be forced into the regime and required to post margin, according to the latest European Council paper seen by Derivatives Week.

PRAGUE – Buysiders and sellsiders are fretting over a Commodity Futures Trading Commission idea floated Monday which has been interpreted as requiring both initial margin and variation margin to be held by third party custodians.

Tan Sri Zarinah Anwar, chairman of the Malaysia Securities Commission, said government-backed growth in the derivatives market is an integral part of the newly announced Capital Markets Masterplan 2.

Royal Bank of Scotland has lost four institutional and corporate solutions structurers in Hong Kong, including Chun Ng and Steven Tsang, both directors, according to an official familiar with the moves

Citadel has expanded its fixed-income business with the hiring of Steven Goldberg and Edwin Lin as senior portfolio managers.

The U.S. Financial Industry Regulatory Authority has fined Santander Securities of Puerto Rico USD2 million for deficiencies in its structured product business.