Derivs - People and Markets

Two powerful U.S. senators are planning to introduce over-the-counter derivatives bills, potentially slowing the pace of the financial regulations that are working their way through Congress.

Matthew Riley, a former executive director in equity derivative flow sales at Morgan Stanley, has joined the Royal Bank of Scotland.

Hedge funds have been buying up calls on the yen against the U.S. dollar and the euro this week, fuelled by downbeat comments from U.S. President Barack Obama and the German government, both warning of a double-dip recession.

Meteor Asset Management has launched its first geared growth kick-out structure, which uses a European option to generate returns for investors based on the performance of the FTSE100.

Macquarie Securities Group, the equity brokerage arm of Macquarie Group, has hired Jeremy Kloiser-Jones to head its Asia structuring and derivatives solutions business, a newly appointed role.

Stephan Cook, head of fx hedge fund sales at Standard Chartered in Singapore, has left.

Last-minute attempts are being made to convince South Korea’s National Assembly to ditch plans to introduce a mandatory pre-approval process for new structured instruments.

The Nigerian Securities and Exchange Commission has called on the International Swaps and Derivatives Association to help craft derivatives legislation following a surge in trade volume over the past year.

U.K. structured products providers are unsure which trade body will represent them after a decision was taken by industry officials to set up two separate associations.

The Lehman Brothers estate will fight what it says are inflated derivatives claims filed by big banks, the firm’s administrators said in U.S. bankruptcy court this morning.

Broker-dealer Knight Libertas has hired ex-CreditSights senior macro strategist Brian Yelvington to assume a new role in fixed income strategy.

An auction mechanism that would standardize how credit derivative tranche trades are settled when a company within the tranche restructures its debt is being formulated. The so-called Tiny Bang restructuring supplement follows Small Bang and Big Bang protocols introduced earlier this year and would primarily affect iTraxx trades in Europe.