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GFI Group, an interdealer broker, has hired 10 brokers to launch a U.S. interest rate brokering desk in London.

Moulds was recently appointed head of international debt and equity markets at Bank of America and also took on the chairman's spot at the International Swaps and Derivatives Association in November.

William Hau, an interest rate trader at Deutsche Bank, has joined Goldman Sachs in Hong Kong in a similar role.

Morgan Stanley has hired Rafe Sasson from JPMorgan as a credit derivatives trader in its New York office.

JPMorgan's decision to appoint Brian Zeitlin and Oldrich Masek, co-heads of the global structured credit business, could stop the recent hemorrhaging of staff and reaffirm the U.S. bulge bracket firm's position at the top of the credit derivatives market.

JPMorgan hired James Cooper as v.p. in the foreign exchange options team from Banc of America Securities in New York.

The Korean National Assembly has passed provisions spelling out netting in financial contracts that is expected to give greater certainty to market participants entering derivatives.

William Mackenzie, proprietary trader at Merrill Lynch in Tokyo, has left the firm.

Kleinwort Benson Private Bank has entered a total return swap to leverage its exposure to falling equity markets.

Derivatives houses are starting to write capital-protected products on single hedge funds as European fund investor education increases and margins on multi-fund structures are squeezed.

RBC Capital Markets has suspended three currency traders following an internal investigation.

Falling default rates and an almost unquenchable appetite for structured products will likely drive spreads for the remainder of the year, according to delegates at last week's Structured Products Forum in Hong Kong.