Derivs - People and Markets

U.S. Commodity Futures Trading Commission has been hiring staff to write new regulations since last fall and is ready to draft them.

UBS has reportedly lured Justin Yang and Ben Jones from Citigroup and Goldman Sachs, respectively, to become co-heads of credit sales for Asia Pacific.

Paul Adams, director and head of multi-asset structured product sales for the U.K. and Ireland at Nomura in London, has left the firm to join Royal Bank of Canada.

Henri Tissier de Mallerais, director and head of interest rates structuring for Asia ex-Japan at Credit Suisse in Hong Kong, has left the bank.

The type of counterparty dealers face may account for split view among dealers in a Federal Reserve Board survey that found players were evenly split between those tightening and those relaxing margin for exotic credit derivatives.

Net derivative liabilities, under Basel II standards, will be taken into account when calculating a firm’s U.K. bank tax, according to a consultation released by H.M. Treasury today.

UBS has hired Mitchell Revsine as an executive director and U.S. equity derivatives strategist in its New York office, according to an internal memo seen by Derivatives Week.

Phil Chew is set to leave interdealer broker Tullet Prebon for a headhunting slot at Meridian Partners in Singapore.

Dixit Joshi, head of equities for Europe, Middle East and Africa at Barclays Capital in London, left the firm over the weekend.

The Malaysia Deposit Insurance Corporation is proposing to ease the process of close-out netting.

The New Zealand Ministry of Economic Development has issued a consultation paper that proposes to overhaul existing derivatives regulation in the country.

Registered funds that use exotic, riskier derivatives would have to set aside more assets to counterbalance their trades than plain vanilla users under a newly floated proposal.