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Spreads were tightening last week on the back of market players selling index protection and reversing a buying trend earlier in the week.

The U.K. Takeover Panel expects to publish in August rules requiring dealers and hedge funds to disclose interests in takeover targets built up through derivatives.

U.S. interest in constant proportion portfolio insurance products is being hampered by the tax system.

Ulster Bank is offering investors exposure to global equity indices, property and commodities.

Trustreet Properties has entered an interest rate swap to hedge its exposure to rate changes over the life of a five-year floating-rate USD175 million loan.

Bear Stearns last week kicked off a structured retail products program in Hong Kong from its newly-established onshore equity platform.

West Capital Management has invested in the PIMCO Commodity Real Return Fund but is concerned the fund may take a tumble when China's current construction frenzy slows.

Centrica, a U.K. electricity and gas supplier, is developing a derivatives strategy to hedge the wind exposure of its growing fleet of wind farms.

Citigroup's hybrid derivatives desk is pitching a note referencing an active portfolio of equities, commodities or bonds featuring 100% principal protection, as part of its multi-asset products business.

Structurers are adding features such as a guaranteed minimum exposure to the underlying and the elimination of a knock-out trigger to constant proportion portfolio insurance to boost investor interest.

Credit Suisse First Boston is preparing to rev up its corporate business in Korea as well as tackle won-denominated trading across asset classes, after last week receiving a full onshore derivatives license for the country.

Deutsche Bank has hired Scott Milner, a salesman in third-party equity derivatives with ABN AMRO in New York, as v.p. in its investment products group.