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Credit investors are turning away from structures with leveraged exposure to super senior tranches of collateralized debt obligations because of trepidation over embedded triggers.

David Crammond, Asia-Pacific head of structured credit sales at ABN AMRO in Singapore, has resurfaced at credit pricing house Markit.

The International Swaps and Derivatives Association will issue a protocol or legal agreement for novation processing with the aim of cutting operational headaches that have attracted regulatory attention to the OTC mart.

Morgan Stanley has just done a synthetic collateralized debt obligation deal in Hong Kong with additional equity derivative exposure, which it believes is a first.

Lisa Watkinson, executive director and the global product manager for credit-default swap and credit indexation at Morgan Stanley in New York, has left the firm.

--David Littlewood, director at London-based asset manager Cairn Capital, commenting on the complication unwind triggers can add to leveraged super senior deals.

Christian Dalban, the ex-global co-head of equity derivatives at JPMorgan in London and Clemens Lansing, European head of flow derivatives trading and relative value at the firm, are planning to launch a hedge fund together.

Morgan Stanley is looking to build up trading of credit-default swaps on emerging market corporate bonds to take advantage of what it views as a lucrative developing market.

Fx strategists anticipate additional revaluations of the Chinese yuan following last week's move to de-peg the currency.

Aurelien Bessot, senior equity derivatives trader at Rabo Securities in London, has returned to the City after a stint in Hong Kong.

WestPac Banking Corp. has brought aboard Aussie credit market veteran Pierre Katerdjian, senior credit marketer who recently left BNP Paribas in Sydney (DW, 6/17), in a new role as a credit portfolio manager in Sydney, handling the bank's internal credit exposure.

Morgan Stanley is preparing to kick start an onshore derivatives effort in Korea after recently receiving a banking license.