Derivs - People and Markets

The Committee of European Securities Regulators is against client categorization rule changes for over-the-counter derivatives proposed under the Markets in Financial Instruments Directive.

Buyside firms may begin turning to local dealers as counterparties in individual Asian markets over international dealers, as coming regulation pushes more Asian derivatives activity onshore.

Panelists of a joint Securities and Exchange Commission/Commodity Futures Trading Commission hosted roundtable this morning tackled questions of access to risk management strategies for clearing parties and possible conflicts of interest within the clearing process.

ISDA members have come to a provisional consensus to alter the definitions regarding the right of termination with respect to a disruption event in the case of a change in law.

European dealers are warning the definition of covered positions in credit default swaps must be kept flexible lest some trades be seen as falling outside the regime introduced by the European Commission.

Royal Bank of Scotland has hired Floris Florquin, an ex-exotic equity derivatives broker at Cantor Fitzgerald in London, in a new slot.

BMO Capital Markets is will begin trading fx options from London next month in a move to expand the firm’s geographical reach and better cover its overnight positions.

FM Capital Partners, the London-based hedge fund backed by the Libyan government’s sovereign wealth fund, has launched four new funds following regulatory approval from the U.K. Financial Services Authority.

The implementation of the Volcker Rule will drive down the cost of structured products relative to the rest of the market if the structures meet the regulatory definition of permissible risk mitigation.

Lloyds TSB has hired Gregory Duval as a credit flow trader in its London office in a new role. Duval reports to Brynn Lewis, head of flow credit trading. He joined the firm earlier this month.

International Swaps and Derivatives Association members have come to a provisional consensus to alter the definitions regarding the right of termination with respect to a disruption event in the case of a change in law.

Patrick Moo, a senior emerging markets credit trader at Nomura in London, has left the firm to launch a short-term macro hedge fund.