Derivs - People and Markets

Zurich-based securities dealer EFG Financial Products has made an application to the Hong Kong Securities and Futures Commission for a securities dealer license.

The China Banking Regulatory Commission’s new derivatives regulations have cast doubt over what the role off-shore banks can play when selling to local corporates and institutions.

Morgan Stanley equity derivatives strategists are recommending option plays to take advantage of the healthcare reform risks facing some companies.

Brian Jones, head of equity derivatives sales for the Americas at Macquarie Bank in New York, has left and joined asset management firm Advisors Asset Management as director of retail sales distribution.

Thomas Vergnaud, the former managing director and head of European equity derivatives single stock trading at Dresdner Kleinwort in London, joined Citadel Investment Group last week in a new role.

Goldman Sachs has reportedly been buying six-month dollar calls against the euro over the last week.

First Republic Bank, a California private bank, has hired Andrew Smaltz, a v.p. in fx sales from Royal Bank of Scotland. He joined as a managing director last week.

The Australian Financial Markets Association is close to completing standardized documentation supporting over-the-counter carbon emission trades.

Markit and the Depository Trust & Clearing Corp. will launch their joint trade processing venture on Sept. 1 and are open to another partner should the need arise.

Deutsche Bank issued USD19.5 million in auto-call knockout notes yesterday, with terms nearly identical to the USD132 million issued by HSBC and JPMorgan last week.

The Obama administration’s Over-the-Counter Derivatives Markets Act of 2009 language is now out. You can read the proposals at http://www.iinews.com/site/TitleVIIfinal.pdf and check back later today for in-depth analysis after the media briefing with Deputy Secretary of the Treasury, Neal Wolin, and Assistant Secretary of the Treasury for Financial Institutions, Michael Barr.

Norwegian broker Terra Securities and seven towns have sued Citigroup, alleging the firm sold structured notes that misled investors.