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Demand for cash collateralized debt obligations referencing asset-basked securities is outpacing issuance of the underlying collateral, players say, and this is forcing dealers to structure cash deals with larger buckets of synthetic exposures.

Citigroup is arranging collateralized debt obligations with synthetic exposure to asset-backed securities. The

Citadel Investment Group has hired Neil McDonald, head of automated market making for Europe at Lehman Brothers in London.

Hedge funds have started hedging convertible bonds by buying up cheap, deep out-of-the-money put options as a less risky alternative to shorting stock.

Deutsche Bank has hired Myung Han Kim, managing director, branch manager and co-ceo of JPMorgan in Seoul to revamp the firm's Korean business, according to officials familiar with the situation.

Deutsche Bank in the U.S. is planning to build a platform for single manager fund accounts, allowing it to structure products linked to third-party funds and distribute them to clients.

Credit derivative houses in Europe are looking to develop an index for credit-default swaps referenced to asset-backed securities to build on the current craze for CDS of ABS.

--David Mark, ceo of the International Index Company in Frankfurt, countering arguments the market for synthetic ABS is not yet liquid enough to merit the creation of an index.

Bank Julius Baer is looking to structure capital-protected and non capital-protected products linked to a basket of single-manager, single-strategy hedge funds.

Bank Indonesia announced a number of restrictive fx regulations on June 14 that came into effect Thursday.

The five-year credit-default swap spread on U.K. retailer Marks & Spencer widened sharply after it released poor sales figures for the seventh successive quarter.