Derivs - People and Markets

Ken Li, Barclays Capital’s head of Asia Equity sales to hedge funds, resigned from the position to be replaced by a director in the team, Brenton Battenfeld.

Gaurav Arora, head of equity derivatives trading for the Americas at JPMorgan, left bank earlier this month.

The cost of protecting Dutch insurer Aegon from default plunged this week, after the Netherlands government announced plans to allow the company access to its EUR20 billion (USD3.9 billion) liquidity and capital facility for financial institutions.

The IntercontinentalExchange’s decision to acquire The Clearing Corp. should pave the way for a speedier launch of a clearing house for credit default swaps.

Richard Carson, global head of equity derivatives at Deutsche Bank in London, and Andrew Kent, senior trader, will be leaving the bank following losses on its vanilla trading book.

A proposed rule requiring U.K. companies to disclose to the Financial Services Authority an ownership of greater than 3% in a single stock via contracts for difference is unlikely to help the regulator weed out players seeking to build large positions in a stock to influence voting rights.

The People’s Bank of China is looking to merge two commonly used local trading agreements to create one document for all derivative transactions.

Lucas Newbill has joined Société Genéralé’s hedge fund sales desk in New York as a v.p. in exotic equity derivatives from Calyon.

Briana Hart is among several former Morgan Stanley structured credit employees to join BlackRock Solutions as the asset manager builds its distressed asset management capabilities.

The cost of buying protection on Hungary dropped yesterday as the International Monetary Fund, the European Union and the World Bank unveiled a financial package to shore up the country’s economy.

The drying up of the market is narrowing the field of hedging strategies for users, prompting warnings that more attention needs to be paid to risk management after the crisis abates.

The over-the-counter market should prepare for a new era of regulation, possibly including the licensing of all participants, Martin Kinsky, managing director of markets for the Dubai Financial Services Authority said.