Derivs - People and Markets

Anurag Jodhawat, a v.p in equity derivatives trading at Commerzbank in London, has joined Merrill Lynch as head of emerging markets equity derivatives trading.

Société Générale is recommending a volatility play on U.S. banks that have repaid TARP money to take advantage of huge amount of warrants the government may have to sell on the open market.

Remi Colinmaire, an ex-managing director in equity index trading at Goldman Sachs in London, who according to headhunters made in the region of USD4 million a year and around USD1 billion for Goldman during his four years at the firm, is starting his own hedge fund.

Standard Chartered is preparing to beef up its global credit trading and sales teams over the next six months. Remy Klammers, global head of fx, rates, credit and structured products trading in Singapore, is overseeing the expansion.

The U.S. Department of Justice confirmed last night its investigation into potentially anticompetitive behavior among generators of credit derivatives pricing and revealed that clearing providers would also come under scrutiny.

London-based Jubilee Financial Products is planning to launch an alternative investment business in the coming months, comprising a portfolio fund-of-funds and a new hedge fund range.

Macro Risk Advisors is recommending option plays that capitalize on the volatility spread between technology companies that sell mostly to consumers and those that sell to corporations.

The five main interdealer brokers, ICAP, GFI Group, BGC Partners, Tradition and Tullett Prebon, have formed a group called the Wholesale Market Brokers’ Association Americas, which met for the first time today to discuss its mission statement and a forthcoming Web site.

Hedge funds were buying two-week calls on the euro against the U.S. dollar this morning, anticipating a slower decline in U.S. industrial production for the month of June, released at press time Wednesday by the Federal Reserve.

Jean-Philippe Lecourt, the former global head of equity derivatives trading at Bank of America, has landed at Deutsche Bank, which is rebuilding its equity derivatives trading desk in New York.

Chris Peters, a director in fx sales to corporates at HSBC in New York, and Felipe Leitao, a director in fx trading, have been appointed to senior roles at the firm within its Latin America team.

Peter Ristine, formerly a director in rate sales at Citigroup Global Markets, joined Standard Chartered yesterday as head of North American bank sales for rates and fx.