Derivs - People and Markets

Market participants should support efforts by the Securities and Exchange Commission and Financial Industry Regulatory Authority to implement consolidated audit trails for futures and options trading, said William Brodsky, ceo of Chicago Board Options Exchange at the exchange’s Risk Management Conference in Dana Point, Calif., earlier this week.

Nikhil Kohli, a v.p. in strategic equity derivatives at Credit Suisse in Hong Kong, has left the firm and is set to join JPMorgan in a similar role, according to officials familiar with the move.

HSBC has hired Haider Ali, head of European credit index trading at Citigroup, to lead European credit index trading in London.

Members of the European Parliament yesterday aired concerns that exemptions to the European Market Infrastructure Regulation proposed by MEP Werner Langen would water down the legislation.

Hedge funds in Australia would have to disclose much more information about their derivatives use under a recently-floated consultation paper from the Australian Securities & Investments Commission.

Citigroup has hired Emanuele Di Stefano in a new role as global head of quantitative investment strategies for equities and hybrid products in London.

Deutsche Bank is restructuring its entire U.S. securitization trading platform, unifying all structured finance trading and related derivatives under a single umbrella, according to officials close to the move.

BNP Paribas is planning to launch a service allowing private banks and securities firms to input electronically preferences for a structured product and get a price.

Proposed regulations from the Department of Labor regarding the definition of fiduciary to ERISA plan assets could preclude swap dealers from transacting in over-the-counter swaps with ERISA plans, according to lawyers at Orrick, Herrington, & Sutcliffe in New York.

The latest versions of the European Parliament’s proposed rules on naked credit default swaps and short selling either remove the topic of buy-in entirely or limit its scope, marking a complete turnaround to previous legislative reports on the issue.

Amundi is considering unwinding EUR500 million-1 billion (USD683 million-1.4 billlion) of notional in short positions via credit default swaps on the iTraxx Europe Main and Europe Crossover.

Provisions for trading with special entities, such as pension funds and municipalities, in the Dodd-Frank Act could conceivably be extended to hedge funds given they manage assets from those investors, say lawyers in New York and California.