Derivs - People and Markets

BGC Partners laid off Michael Sheridan, a structured credit broker in London, last week.

Nomura has begun marketing unique swaps from its delta-one desk, whereby it manages a portfolio of stocks based on themes and give clients a one-for-one return without them needing to invest directly.

The European Association for Central Counterparty Clearing Houses (EACH) is waiting to hear from the European Commission before chiming into the global discussion on over-the-counter derivatives clearing.

London-based Cairn Capital has raised an additional USD20 million for its Structured Credit Fund, which seeks opportunities in credit derivatives, options and asset-backed securities.

Bank Negara Malaysia will not prohibit close-out netting in the event a domestic financial institution collapses.

Goldman Sachs Asset Management has filed to launch a new closed-end, non-diversified credit fund that will invest in government and corporate debt, derivatives and other synthetic instruments.

The Commodity Futures Trading Commission is consulting on potential changes to rules governing firms’ investment of segregated customer funds. It is considering whether to amend Regulation 1.25, which allows derivative clearing organizations and futures commission merchants holding customer segregated funds to invest those funds in certain ways.

Market participants are drawing a link between the timing of the U.S. government’s announcement on regulating over-the-counter derivatives and a block Senators Bernie Sanders (D-Vt) and Maria Cantwell (D-Wa) lifted on Gary Gensler’s nomination to chair the Commodity Futures Trading Commission.

London-based Panaxia Capital Management, an investment advisory firm founded last June by Theo Constantinidis, the former head of fixed-income, commodity and currency structuring at Merrill Lynch, has hired a pair of new staffers.

Nomura Securities International has reportedly hired a slew of former Lehman Brothers professionals from Barclays Capital to start up a new U.S. structured finance and credit sales and trading platform.

Newedge is expanding its fx derivatives client base in Asia and is close to announcing a new regional head to run the business.

David Ratzker, formerly of Yorkville Advisors, has joined NIR Group as a portfolio manager heading up the Roslyn, N.Y-based alternative investment firm’s structured equity investments.