Derivs - People and Markets

Rep. Barney Frank (D-Mass.) plans to release his draft over-the-counter derivatives bill in about a week, and his version should be similar to the Obama administration’s proposal.

Victor Gauvin, a director in correlation trading at UBS in London, has left and joined Barclays Capital in a newly created role.

Jamie Robinson, Asia-Pacific head of fixed income, currency and commodities distribution at UBS, will reportedly relocate to London to assume a senior role in fixed income origination.

A New York regulator held back-to-back meetings with dealers last week and listened to warnings about the pitfalls of outlawing naked credit default swaps, but did not fundamentally alter his views.

Legal & General has launched a five and a half-year structure with a potential 36% return linked to the FTSE100.

Some market watchers are characterizing the auction of the Victoria Finance structured investment vehicle as a pricing exercise, with some lots not trading at all and some bidders angry at the amount of work put in to end up with no bonds.

Paul Levy, the former head of exotic credit derivatives structuring for Europe, Middle East and Africa at Merrill Lynch in London, has joined UBS as European head of credit structuring.

Vinit Sahni, co-head of fixed income, currencies and commodities distribution for Asia at Goldman Sachs, has left to join Bank of America Merrill Lynch.

Nomura has promoted George Sun and Samir Bhandari to oversee fixed income sales for Asia Pacific ex-Japan.

Goldman Sachs’ tradeable longevity index, QxX, which was launched with much fanfare in 2007, has seen little activity and currently has no swaps or other derivatives outstanding.

A data repository in multiple locations covering different asset classes, which is supervised in Europe and the U.S., could cause duplications of information on over-the-counter derivative trades.

Barclays Capital will issue two USD100 million-plus offerings of structured notes next week—the biggest registered offerings in months.