Derivs - People and Markets

Credit Suisse has hired Jonathan Fletcher as head of investment-grade corporate credit trading, overseeing activity in both cash and synthetic credits.

Petron Corp., the Philippines’ largest oil refinery, will this week become the first corporate in Asia to sell local currency-denominated bonds with a currency swap derivative overlay.

Senior clearinghouse officials clashed on Thursday morning over how they should be allowed to compete in the derivatives market.

LCH.Clearnet is warning against linking international clearinghouses. Effective risk mitigation systems need to be established before any linking takes place and that’s something industry officials say is not likely to happen soon.

Membership in swaps clearinghouses should be open to non-derivatives dealers, according to Gary Gensler, chairman of the Commodity Futures Trading Commission.

Belgium, which holds the E.U. presidency, has floated a legislative amendment that would allow central counterparty clearing houses the right to refuse to clear derivative trades, which they already provide a clearing service for, that have been executed in a rival location.

U.S. structured finance transactions using interest and currency swaps could become less economical to issue if proposed rules on clearinghouses come into effect, according to a Standard & Poor's analyst.

Barclays Capital has transferred Alain Chanezon, a senior exotic equity derivatives trader in London, to a new role as head of equities and fund structured markets exotics trading in Hong Kong.

Hedge fund Soros Fund Management has reportedly hired Robert Tsai, a senior managing director at Bank of America Merrill Lynch in global proprietary trading.

New rules from the Monetary Authority of Singapore for the issuance and marketing of structured products to retail investors could eventually stymie the market if intermediaries find they can’t be profitable under the new constraints, lawyers say.

Paul Bowmar has joined BNP Paribas in New York as head of fixed income CVA trading and credit/rates/fx hybrid trading for the Americas, according to an internal memo seen by Derivatives Week.

Thierry Lucas, the ex-head of volatility trading at Barclays Capital in New York, has joined RBC Capital Markets in a new London slot.