Derivs - People and Markets

Jaroslav Daniska, a former director in equity derivatives marketing to hedge funds in Eastern Europe at Merrill Lynch in London, has joined Nomura in a new role.

A number of Hong Kong-based hedge funds have been executing trades on the Taiwanese dollar/yen cross, according to a fund salesperson in the region.

Street firms have begun suggesting replacements for the names that are expected to come out of the CDX North American Investment Grade index when the new series starts trading Sept. 21.

BlueMountain Capital Management has hired a quartet of credit analysts to seek out relative value opportunities across the capital structure.

South Korean regulators working to bring about central clearing of over-the-counter trades are initially targeting credit default swaps and interest rate swaps. They are hoping to run draft legislation by the national assembly early next year.

An unidentified Malaysian firm reportedly received a whopping USD3 million stamp duty bill after submitting an over-the-counter contract to the Inland Revenue Board of Malaysia.

Arang Varadhachary and Jock Jones have been named co-heads of credit trading in the Americas at Nomura Securities International.

Chicago-based equity options broker dealer Liquid Capital Securities has made several senior hires for its New York office, which is slated to open Sept. 1, and is looking to add more salespeople.

Eurex Credit Clear has cleared the first single name credit default swap contract globally, with Nomura and UniCredit—the platform’s only two members so far—behind the contract.

The Central Bank of the United Arab Emirates is cracking down on retail structured products but has done so in a fashion that is confusing to bankers and lawyers.

Citadel Securities has made a raft of additional hires to its credit trading platform, which as first reported by DW Online on Monday is being expanded. Coming on board in October is Igor Pavlov, an executive director and senior trader in high-yield cash and derivatives trading from Morgan Stanley (DW Online, 8/24).

Anders Eggen, formerly a director in global proprietary trading at Credit Suisse, has joined Deutsche Bank in New York in equity trading.