Derivs - People and Markets

Ian Claisse, global head of credit trading at Landesbank Baden-Württemberg in London, has left the firm.

Citigroup has hired Clemens Baadar, a senior synthetic equity trader at Deutsche Bank in London, as head of Delta 1 for the Central and Eastern Europe, Middle East and Africa region.

International Swaps and Derivatives Association members have provisionally agreed on standard terms setting out how a counterparty would dispute a calculation agent determination under an equity derivative transaction.

Next week the International Swaps and Derivatives Association will submit an implementation plan for resolving conflicts over margin calls to regulators including the U.S. Board of Governors of the Federal Reserve, the U.K.’s Financial Services Authority and Germany’s Federal Financial Supervisory Authority.

The European Securities and Markets Authority will charge rating agencies fees to fund the regulator’s expenditure, and will also have the power to fine agencies should they breach forthcoming regulation, according to an amended draft European Parliament legislative document seen by Derivatives Week.

Germany has liberalized the ability of foreign counterparties to terminate contracts with German institutions that are subject to insolvency proceedings.

HSBC has hired Markit Group senior executive Niall Cameron as its new global head of credit trading to replace Ken O’Brien, who left the firm in August.

Mizuho Securities is planning to launch a global derivatives platform in the first half of next year.

Lloyds TSB Corporate Markets has brought on Charlie Diebel as head of market strategy, which includes generating daily market analysis and in-depth views on fixed income, rates and currencies.

Douglas Decker, the ex-head of equity-linked origination at Wells Fargo in New York, has joined Nomura in a new role as head of convertible bond origination.

Legislative proposals aimed at regulating the over-the-counter derivatives market in the U.S. and Europe has led to industry confusion over the location that a cross-border derivative transaction should be cleared in.

European regulators are overreacting in their response to the credit crisis and are subsequently leaving the market with a so-called ‘patchwork quilt of rules,’ according to sellside officials speaking at the International Swaps and Derivatives Association's regional conference in London today.