Derivs - People and Markets

Sital Bhojumal Hakumal, a fixed income sales executive from Royal Bank of Scotland, has joined JPMorgan to head up fixed income sales for Malaysia.

Barclays Capital has launched two new electronic services for over-the-counter fixed income derivatives—an interest rate swap portfolio compression tool and a closing price order tool.

Industry groups in London are against the client categorization rules changes for over-the-counter derivatives proposed under the Markets in Financial Instruments Directive.

Leonardo Giangreco, the former co-head of equity sales at Bear Stearns in London, has joined Banco Bilbao Vizcaya Argentaria as head of equity derivatives sales for Europe ex-Spain in London.

Stephen Lane, head of trading for Europe and Asia in Crédit Agricole Corporate and Investment Bank’s debt and credit markets division, has left just over a year since joining the firm, as has Luca Favero, head of credit derivative trading in London.

UBS has hired Gilbert Langner to head up the firm’s electronic volatility trading in business in Asia Pacific.

Julien Bahurel has resigned from Morgan Stanley where he headed up equity derivatives sales, and will take up the same role at UBS, according to an internal memo seen by Derivatives Week.

Société Générale has hired Steve Munday, a senior credit trader at Nomura, as a director in high-yield credit trading based in London.

A draft bill circulated by the New York Assembly insurance committee that would have banned naked credit default swaps (DW, 3/22) will have to be scrapped since the U.S. Dodd-Frank Act expressly prohibits states from regulating swaps as insurance.

The National Association of Financial Market Institutional Investors is likely to overhaul its China Inter-bank Market Financial Derivative Transactions Master Agreement.

As the Securities and Exchange Commission proceeds with its review of fund’s usage of derivatives, it has urged funds to take a fresh look at derivatives-related disclosures.

The KOSPI200 index will be the first asset available to the new Korean knock-out warrant, similar to a callable bull/bear contract, says Joon Park, a product manager for the Korea Exchange in Seoul.