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Issuance of hybrid collateralized debt obligations of asset-backed securities is overtaking issuance of straight cash CDOs of ABS.

The Indian derivatives market is expected to get a boost in turnover due to an increase in limits for single-stock futures and options.

The International Swaps and Derivatives Association plans to start work on a template for settling credit-default swaps on collateralized debt obligations, credit card receivables, student loans, auto loans and non-U.S residential mortgage-backed securities.

Christina Maegerlein, an equity derivative saleswoman covering Germany at JPMorgan, has left the firm, along with junior German salesman Fabian Kutt and Magdalena Saine, v.p. covering sales to the Middle East.

Cisco Systems' triumphant $6.5bn debut bond led an array of blowout issues in the US corporate debt market this week. They all took advantage of investors' eagerness for deals in a month that has produced much less issuance than expected.

Goldman Sachs has hired Diego Caielli, an equity derivative sales staffer covering hedge funds at JPMorgan in London, as a v.p. in a similar role. Caielli was on gardening leave and could not be reached. He will report in to David Ryan, managing director in volatility flow sales. Ryan said the hire is a replacement for a staffer who transferred to Hong Kong.

The private equity and hedge fund business led by ex- Morgan Stanley bigwigs is readying for an April launch.

Westpac Banking Corp. veteran head of credit trading Jason Cavanagh has left the firm in Sydney to set up a hedge fund. He and Robert Ross, a former fund manager, are now setting up the fund in the same city, dubbed Gibraltar Capital.

The Indian derivatives market is expected to get a boost in turnover due to an increase in limits for single-stock futures and options. The Securities and Exchange Board of India has raised the position limits from a combined INR500 million (USD11.3 million) for futures and options to a combined amount of 20% of physical capital of a company.

HSBC's David Choi, head of interest-rate trading in the treasury and capital markets division in Seoul, has left. Choi, who did not respond to email by press time, previously ran the rates desk at Citigroup (DW, 7/22/02). Scott Sohn, interest-rate trader at HSBC in Seoul, said he now oversees the trading effort.

Dharmendra Patel, v.p. and equity derivatives strategist at Goldman Sachs in London, has left the firm. Patel, reached on his cell phone, confirmed the departure, declining further comment. A message left with Sandy Rattray, head of the fundamental strategy group, and Klaus Toft, head of sales strategy, was not immediately returned and it could not be determined if a replacement for Patel has been named.

Christina Maegerlein, an equity derivative saleswoman covering Germany at JPMorgan, has left the firm. Maegerlein has reportedly taken a junior sales staffer with her, but this could not be determined--she was on gardening leave and unavailable for comment. Andrea Morresi, head of equity derivatives investor marketing at JPMorgan in London, did not return a message.