Derivs - People and Markets

Jerome Bussiere, a former managing director in equity derivatives trading at Dresdner Kleinwort in London, has joined HSBC in a new role trading commodities.

Investment consultancy Mercer is talking to pension fund trustees it advises about bringing derivatives into their investment portfolios.

HSBC has hired Chi-Sun Chui as a senior director in equity derivatives flow trading in Hong Kong.

Purported linkage between Greece’s fiscal woes and naked credit default swaps this week dealt a fresh blow to the G14 derivatives dealers, who had seemingly gained some ground after committing to regulators to bring more transparency to the CDS market.

Speakers on the regulation panel gave delegates their two cents on what they expect to see in forthcoming legislation, and how far discussions on Capitol Hill have gone. “After a quiet period, we think you’re going to see a lot of activity in the next six to eight weeks,” said Cory Strupp of SIFMA.

Laurence Black, head of custom indices at Royal Bank of Scotland in London, left the firm a few days ago and is reportedly heading to Barclays Capital in a similar role.

Members of the U.K. House of Lords have opposed the set-up of a Europe-wide default fund to stave off a clearing house collapse.

UBS has hired Yash Agarwal as an exotic equity derivatives trader in Hong Kong, reporting to Winnie Chui, Asia head of equity exotics trading for the bank.

Goldman Sachs is continuing to lose key staff from its Asia fixed income business.

Andrew Feldstein, ceo and cio of BlueMountain Capital Management, said on the regulation panel at Markit’s OTC derivatives seminar Tuesday that markets need to get used to the idea of certain systemically important and interconnected companies being too big to fail.

Neil McPherson has been promoted to global head of structured finance at Markit.

Minimum capital requirements for correlation desks should be excluded from upcoming European legislation, according to a draft report by Arlene McCarthy, U.K. member of the European Parliament and vice-chair of Europe’s Economic and Monetary Affairs Committee.