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ISDA announced over 720 market participants have signed up thus far for the novation protocol.

UBS started marketing its first managed leveraged super senior synthetic collateralized debt obligation in Japan.

Angela Papesch, director of policy and head of the Asia-Pacific office for ISDA, and Jacqueline Low, regional treasury counsel, emerging market sales and trading at Citigroup, gave a rundown of recent regulatory developments in the region.

--James Adam, property derivatives product head at ICAP in London, on its list of counterparties interested in trading cross-sector property derivatives.

Skandia Investment Managers is offering a new capital-protected multi-fund investment product, with averaging to boost participation levels.

Goldman Sachs is preparing to kick off its derivative warrants business in Hong Kong, after recently recruiting staff from established rival SG Securities. "We now have the best local marketing team and combined with our global technology platform developed in Europe and Japan, we will be able to differentiate ourselves," said an official at the firm. For the effort the firm hired high-profile warrant specialist Cheril Lee, now-executive director at Goldman in Hong Kong from SG (DW, 7/8) and is bringing in Ron Chia, equity derivatives trader at SG in the coming weeks for warrant trading.

Merrill Lynch has hired Mathilde Roland, v.p. and equity derivatives trader at Deutsche Bank in Hong Kong, in a new role focusing on exotics trading for multi-regional transactions. "As multi-country and multi-regional products continue to grow, it was appropriate for us to cover this real-time in Asia as well," said James Rodríguez de Castro managing director in global equity markets at Merrill in Hong Kong. Roland will focus on multi-regional equity basket trades, which had previously been covered from London and New York, and joins as a v.p.

Bear Stearns has hired equity derivatives trader Thomas Veylon from SG Corporate & Investment Banking. Veylon joined in London as an associate director in flow equity derivatives, confirmed Guy Cross, spokesman for Bear. He reports to Ed Steel, managing director in structured products. Michelle Gathercole, spokeswoman for SG CIB in London, did not return a message and Veylon's role at the firm could not be determined.

SG Corporate and Investment Banking has lured back Olivier Benator, a credit derivatives salesman at UBS in Paris, to its fixed income and derivatives sales desk, also in Paris. Benator, who joined UBS from SG in 2001, will start as a director and manage sales in France. Benator could not be reached, but Michelle Gathercole, spokeswoman for SG in London, confirmed the hire, declining to provide details of the role or who he will report to. Sarah Small, spokeswoman for UBS in London, did not return messages by press time.

Calyon has hired Rahul Mani, a senior credit derivatives flow trader at Barclays Capital in London. Mani, who is on gardening leave and could not be contacted, will report to Olivier Gazzolo, European credit trading head in London, and starts in December. Gazzolo confirmed the hire, declining to comment on the exact nature of Mani's role.

A senior equity derivative salesman with responsibility for the Nordic region has left BNP Paribas.

The International Swaps and Derivatives Association has extended the deadline for hedge funds to sign up to its novation protocol.