Derivs - People and Markets

Société Générale is preparing to sell the U.K.’s first retail notes to mirror bonus certificates, where investors get unlimited participation in an underlying with the choice of a capped or non-capped payout thanks to an embedded barrier option.

UBS will issue a pair of offerings on Wednesday that feature a high, fixed rate of return, provided the S&P 500 does not decline.

Scottish Widows has launched a six-year investment plan with a potential 45% return based on the performance of the FTSE100.

Intercontinental Exchange’s ICE Clear Europe unit started clearing euro-denominated, single name credit default swaps today on three utilities—E.ON, Centrica and Enel—but the dealers behind the trades were not revealed.

Morgan Stanley is set to launch a global, e-commerce platform for institutional investors in the first quarter. Through the platform, called Matrix, it will communicate live, two-way prices for over-the-counter and listed vanilla interest rate and fx derivatives, as well as sovereign credit default swaps.

Saxo Bank is gearing up to launch the first contracts for difference referencing meat and rice prices.

Olivier Chevillon, a former v.p. in single stock derivatives trading at Bank of America in London, has joined ING in Brussels.

The U.S. House of Representatives passed its financial reform bill today, 223-202, including amendments providing a controversial limit on banks’ ownership of clearing houses and a definition of “major swap participant” that’s better for the industry.

The Securities and Exchange Commission’s first insider trading case involving credit-default swaps took a step forward this week when a New York judge ruled against the defendants’ motion to dismiss the case.

BNP Paribas is folding its global fund-linked business. The head of the business, Stephane Liot, is reportedly staying on to wind down the business.

A European Parliament committee has proposed that structured retail issuers disclose product terms to regulators where potential buyers are based before marketing the notes.

Jeremy Glaros, an equity derivatives structurer for Macquarie Securities in Hong Kong, is being transferred to the firm’s Sydney office to be a director in structuring, effective Jan. 4.