Derivs - People and Markets

American Bankers Association-founded financial data company CUSIP Global Services is considering launching a numbering system for U.S. over-the-counter equity options after rolling out the identifiers for listed options on Tuesday.

A group of industry representatives sent a report to the Fed Supervisory Committee yesterday outlining complex legal analysis targeted at clearing up concerns over buyside access to central counterparties for OTC derivatives. It specifically addresses how to protect customers’ initial margins should an entity in a clearinghouse fail and recommends that swaps be treated as commodities under the Commodity Futures Modernization Act of 2000.

The draft Consumer Financial Protection Agency Act, released last Tuesday by the U.S. Treasury, does not mention structured products, temporarily quelling fears that the proposed agency would be tasked with cracking down on the growing U.S. retail market for complex instruments.

Fitch Ratings has appointed Jeremy Carter the new head of structured credit for Europe, the Middle East and Asia.

Cantor Fitzgerald is looking to hire 25 credit default swap traders and sales pros and is close to appointing someone to lead the charge.

Barclays Capital has added Jason Gans, a v.p. in sales to pensions, endowments and foundations at Goldman Sachs, to its investor solutions group in New York.

The U.S. Financial Industry Regulatory Authority is investigating a series of credit default swap brokerage staffers in the belief they may have engaged in price collusion, after fining former ICAP Corporates broker Jennifer Joan James yesterday.

Citigroup has swooped on Morgan Stanley in London and hired Dan Petherick, managing director in equity derivatives sales to hedge funds and institutional clients. Robert Austin and Paul Lee, directors, have also been tapped and are set to join at the end of September.

GLG Partners has made its first move to offer hedge fund strategies via the UCITS structure by launching the GLG Pure Alpha (UCITS III) Fund.

Law firm Russin & Vecchi has advised the International Swaps and Derivatives Association to add language within its 1992 and 2002 Master Agreement that would clear up uncertainties surrounding payments in the event of a default.

As the wait for the new bullet loan-only credit default swap contracts continues, some market participants have questioned whether debtor in possession loans should be deliverable into LCDS settlement auctions.

Keith Yanowitz, director in emerging markets fx at UniCredit in New York, has left the firm and joined trading shop First New York Securities.