Derivs - People and Markets

The recent strengthening of the Korean won against the U.S. dollar has aided a number of banks who were on the wrong side of knock in/knock out FX contracts in the past year.

UBS has hired Tommy Fang in Hong Kong to oversee equity structured product sales into Greater China.

A feasibility study is being conducted into whether it is achievable to make the buyside part of commitments to federal regulators on credit default swap clearing.

The U.S. Treasury’s proposals for reforming the financial regulatory landscape, including stepping up supervision of over-the-counter derivatives, should come as a relief for some industry practitioners who feared the worst.

The International Swaps and Derivatives Association has circulated a draft term sheet outlining auction settlement protocols to be followed in the wake of restructuring credit events.

Thomas Vergnaud, the former head of European equity derivatives single stock trading at Dresdner Kleinwort in London, who was snaffled by Merrill Lynch last month, is no longer joining the firm.

Jorge Giampaoli, an executive director in single stock equity derivatives trading at Morgan Stanley in London, is set to join London-based hedge fund manager Brevan Howard Asset Management next week as an equity volatility trader.

Royal Bank of Scotland has reportedly hired Samir Atassi, head of Central and Eastern Europe, Middle East and Africa emerging markets at Merrill Lynch. The move would see him follow Antonio Polverino, who RBS recently hired from Merrill to head fixed income, currency and commodities sales in Europe.

Standard Chartered has hired a pair of senior equity derivatives traders to lead global exotics and flow businesses, respectively.

PricewaterhouseCoopers, the administrator of troubled structured products provider Keydata Investment Services, has narrowed down its list of prospective buyers to five. It expects to select a frontrunner for Keydata in the next day or so.

Broker-dealer BTIG has added four credit professionals to its global fixed income group in New York.

MF Global has named James Rowsell to head up its European operations with immediate effect, overseeing London, Paris, Amsterdam and the new Geneva office.