Derivs - People and Markets

UBS is bulking up its European credit trading operations with the hires of Vassilis Paschopoulos and Robert Purvis to trade European corporate credit default swaps in London.

A coalition of industry groups, including the Association for Financial Markets in Europe and the International Swaps and Derivatives Association, has expressed concerns about a single reporting regime for both transaction and position reporting on over-the-counter derivatives based on reporting through trade repositories.

The Life & Longevity Markets Association will release today a framework for a longevity index, which will be the basis for a tradable index the organization intends to create.

Gary Suen, Deutsche Bank’s head of Asia warrants business, has left the firm in the last week, an official said.

Jason Kastner, vice chairman of the Swaps and Derivatives Markets Association, spent most of today’s market roundtable in Washington, D.C., playing devil’s advocate, arguing against other market participants for open access to clearing, ownership limits on clearinghouses and a separation of clearing and execution.

BNP Paribas has hired Alan Pierce as head of European corporate credit trading, both cash and synthetic.

The U.S. Securities and Exchange Commission is investigating how registered funds make alternative investment decisions.

Banning flash orders in the options market could cause another flash crash, a Securities Industry and Financial Markets Association committee has warned.

The Securities and Exchange Commission and the Commodity Futures Trading Commission should make sure to take into account collateralization when setting the threshold for who counts as a major swap participant, according to Philip McBride Johnson, of counsel with Skadden Arps Slate Meagher & Flom and a former head of the CFTC.

Marcel Koebeli, the ex-head of equity structured derivatives for Europe, Middle East and Africa at Nomura in London, has joined Goldman Sachs in a similar role.

Annabelle Wegner, an ex-head of structured product sales for Austria and Germany at the Royal Bank of Scotland in London, has joined Credit Suisse in a similar position.

Sherri Venokur, chair of the derivatives practice group at Lowenstein Sandler in New York City, has left the firm and started a solo practice under the name sVenokur.