Derivs - People and Markets

Liontrust has sold its fixed-income operations to Avoca Capital Holdings, a Dublin-based credit specialist, subject to regulatory approval.

Renaissance Capital has named Yavuz Uzay as head of Turkish equity research.

BMO Capital Markets has opened an fx office in Hong Kong as it continues to expand its capital market presence in Asia.

OCC has entered into agreement that establishes MarkitSERV as a trade source and middleware provider for over-the-counter equity derivatives trades that OCC would clear.

Sandler O’Neill + Partners has enhanced its fixed-income group with five new hires.

The Department of the Treasury is “very close” to reaching a decision on whether to exempt fx swaps and forwards from derivatives regulations, according to Mary Miller, assistant Treasury secretary.

The provision of the Dodd-Frank act that would force investment banks to spin off their derivatives trading may result in more foreign firms reorganizing their operations than their U.S. counterparts, according to Daniel Trullo, a governor of the Federal Reserve Board.

By Eric Kolodner, managing director at Tradeweb in London The Council of the European Union and the European Parliament will shortly determine various issues in the European Market Infrastructure Regulation that will have a profound impact on the extent to which regulators will achieve their stated goals of reducing systemic risk, fostering competition and promoting price efficiency in the derivatives markets.

PRAGUE -- The countless hours agonizing over legislation, amendments and white papers are starting to get the better of some industry officials. Frustration was boiling up today at International Swaps and Derivatives Association AGM.

Banks in China that have entered naked short positions or derivatives which may result in unlimited losses must unwind or hedge the positions by the June 30.

PRAGUE – The International Swaps and Derivatives Association has elected Stephen O’Connor, managing director and global head of over-the-counter client clearing at Morgan Stanley, as the association’s new chairman.

Philip Tsao, a managing director and head of the asset owners sales group the Asia derivatives distribution group at Morgan Stanley in Hong Kong, has left the firm, according to officials familiar with the move.