Derivs - People and Markets

Increased liquidity in the nascent catastrophe derivatives market has prompted environmental broker Evolution Markets to launch a dedicated desk focusing predominantly on catastrophe swaps.

Head of hybrid exotics and interest rates trading at Standard Chartered, Noel Vaillant, has left the firm.

Standard Chartered has hired Edward Ho managing director and global head of equity derivatives and intermediaries sales.

Mitul Kotecha, head of global foreign exchange research at Calyon, has relocated to Hong Kong from London where he will remain in the role which encompasses development of derivatives trade ideas and strategies for global currencies, but he will have a greater focus on Asia markets.

Sorin Capital Management has hired Matt Chasin, a former Bear Stearns senior managing director, to be its new chief operating officer.

The Clearing Corp. is moving closer to establishing a centralized platform for clearing over-the-counter credit default swaps, after initial tests conducted since July 4 have proved positive.

A team of nine structured products officials recently let go by Countrywide Securities is in talks to join a new firm.

Barclays Capital has hired Andrew Weiss as a director in sales for its New York over-the-counter derivatives solutions team.

Joseph Elmlinger, managing director and global head of equity derivatives at Citigroup, has left the bank.

Monolines will have to adhere to strict reporting requirements for credit default swaps and collateralized debt obligations of asset-backed securities under statutory changes being crafted by the New York State Insurance Department.

The Securities and Exchange Board of India’s foreign institutional investor regulation amendments have caused anxiety amongst the industry over the definition of a new clause linked to off-shore derivatives, which it fears is too narrow and may curtail lucrative business if taken literally.

Jeff Kushner, a managing director at BlueMountain Capital Management and one of the founding fathers of the U.S. loan-only credit default swap market, is heading to London to run the $4.8 billion hedge fund’s City desk.