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BNP Paribas is planning to extend the curve for Japanese synthetic CDOs with seven and 10-year deals in the works.

Investment manager Alcentra, a subsidiary of the Bank of New York which runs more than USD7 billion in assets, is hedging fx risk on a high-yield collateralized loan obligation.

CharterMac, a New York-based real estate finance company, is gearing up for its first collateralized debt obligation and a joint venture with IXIS Capital to write credit-default swaps and provide credit enhancement on commercial real estate loans.

The price of protection on U.K communications provider Colt Telecom drew in more than 150 basis points Thursday morning after the company announced it will issue GPB300 million (USD525 million) in shares to pay down outstanding debt and cancel its U.S. listing.

Commerzbank recently hired K.P. Lee, equity derivatives marketer at SG Corporate & Investment Banking in Hong Kong.

The latest twist on volatility instruments, known as a conditional variance swap, has started trading in size and is the focus of attention for both U.S. and European hedge funds and dealers.

Some credit dealers are holding off entering the budding tranchelets market because of uncertainty over correlation risks.

Credit Suisse Asset Management has hired Frédérique Pierre-Pierre, previously responsible for equity derivatives marketing at HVB Group in London.

Sergio Ravich, managing director and head of fixed income sales to Spain at Credit Suisse, has left the firm.

French broker Exane has doubled its variance swap trading desk to a team of four.

Credit Suisse is preparing to re-enter the Indian market this year, with plans to build up an onshore trading operation.

Deutsche Bank has lost a raft of credit derivative officials with five traders and structurers quitting the London office in the past week.