Derivs - People and Markets

The Depository Trust & Clearing Corp. Trade Information Warehouse is working to create a library of historical data on credit default swaps in line with regulatory demands for increased transparency in the over-the-counter market.

Exchanges aiming to centrally clear single-name credit default swaps have their work cut out to meet the July 31 deadline set by the European Commission.

Credit derivative strategists at Bank of America have offered an explanation for why the basis between credit default swap indices and single names has not normalized in the wake of the recent credit rally and pickup in corporate primary issuance.

Panelists at the International Derivatives Expo in London this morning questioned the way in which the U.K. Financial Services Authority has stepped up its supervision of firms, particularly in relation to their over-the-counter derivative positions.

Société Générale has appointed Janice Yu to head up cross-asset private banking sales in Asia.

State Street, a Boston-based custody bank, is in the process of adding a valuations and processing capability for equity contracts for difference trades.

As of late July, credit default swaps triggered by restructuring credit events in Europe and North America will be settled according to five buckets corresponding to the maturity of their underlying reference obligations.

Clearing house providers complained of the lack of definitions surrounding what constitutes standardized and customized over-the-counter derivatives at the second annual International Derivatives Expo in London this morning.

The U.K. Takeover Panel has issued a consultation paper suggesting two amendments to the City Code on Takeovers and Mergers capturing how dealing in derivatives and options should be reported around the time of a deal.

Thomas Vergnaud, managing director and head of European equity derivatives single stock trading at Dresdner Kleinwort, is set to join Merrill Lynch next month in the same role.

Malaysian retail investors are showing signs of increased appetite for structured products, indicating the country has not been as badly dented by the financial crisis as the rest of Asia.

A second dispute involving Lehman Brothers Holdings Inc. and payment rights on a collateralized debt obligation has emerged in the U.S. courts.