Derivs - People and Markets

Eurex Clearing has announced that it plans to expand its Eurex OTC Clear service to include over-the-counter-traded interest rate and equity derivatives.

Exchange-traded derivatives may escape European regulations aimed at the over-the-counter market.

Magnus Böcker, ceo of the Singapore Exchange, said he sees no shift of derivatives and clearing activity to Asia to escape regulations in Europe and the U.S.

Investec has appointed David Gracey as head of fx and derivatives trading in South Africa. Gracey, who succeeds Grant Barrow, most recently worked at Nedbank Group.

Lazard has hired Yan Lan as managing director and head of investment banking for Greater China.

The Options Clearing Corp. has formally rebranded itself as OCC.

Merrill Lynch Wealth Management has hired Jeremy Brown to manage investment solutions in Europe, the Middle East and South Africa.

National Grid, the international gas and power company operating in the U.S. and U.K., is expecting to increase its use of derivatives to hedge volatility in the foreign exchange market, as it embarks on its GBP22 billion capital expenditure program.

Credit Suisse is set to hire Dimitris Melios to trade credit default swaps out of its London office.

The number of firms licensed to trade credit risk mitigation instruments in China has grown from 17 to 38 since the pilot program kicked off in November.

The Malaysian Securities Commission and the Oxford Centre for Islamic Studies have floated the idea of a public good standard for Shariah-compliant financial products, including derivatives and structured products.

Warren Buffett, who has called derivatives “financial weapons of mass destruction, now says they’re not “evil per se.”