Derivs - People and Markets

Richard Ketchum, president and CEO of the Financial Industry Regulatory Authority, has asked the Securities and Exchange Commission to consider mandating that security-based swap data be consolidated before it is disseminated publicly.

Folake Shasanya, director of credit at the Association for Financial Markets in Europe for covered bonds and derivatives in London, has left the trade body to join the Royal Bank of Scotland.

The Securities and Exchange Commission and the Commission Futures Trading Commission should phase in the Dodd-Frank Act’s requirements on clearing, execution and reporting, according to Gerald Donini, head of equities and trading for the Americas at Barclays Capital.

Hari Thirumalai, a former analyst on the credit proprietary trading desk at Bank of America Merrill Lynch in London, has joined UBS as an executive director and trader in structured credit, also in London.

The Matrix-PVE Global Credit Fund, advised by London-based hedge fund manager PVE Capital, is considering using credit default swaps or options on indices to go long European utilities and telecommunications companies over the next two quarters.

Brokers are against further restrictions on trading facilities to which over-the-counter derivatives will be moved under the latest revisions to the E.U. Markets in Financial Instruments Directive.

Bank of America Merrill Lynch in New York has lost three staffers from its corporate derivatives sales group this week.

Lloyds Bank Corporate Markets has hired Richard Hitchcox as a managing director and head of financial institutions flow rates sales in London.

The Depository Trust & Clearing Corporation has become the latest player to push back against how federal regulators are interpreting the Dodd-Frank Act regarding the role of chief compliance officers.

Ben Rick, head of credit proprietary trading for Europe, the Middle East and Africa at Bank of America Merrill Lynch in London, has left the firm.

Royal Bank of Canada in New York has lost a number of staffers from its New York emerging markets fx derivatives group since December. Eric Olson, managing director of emerging markets trading, Sergio Zanini, v.p. of emerging markets trading, and Caroline Bloomberg, director of emerging markets rates and sales, have left the firm.

Derivatives accountants have defended new proposals released by the International Accounting Standards Board and the Financial Accounting Standards Board, after the International Swaps and Derivatives Association yesterday opposed new rules for the reporting of derivatives in financial statements.