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Regulators in China are calling for greater risk management safeguards in new business lines, such as derivatives amid skyrocketing interest for the instruments.

Credit Suisse First Boston has priced the first option on equity index correlation and other dealers, including Deutsche Bank and SG Corporate & Investment Bank, are thought to be close on CSFB's heels.

U.S. agricultural companies have been diving into weather derivatives over the last few months to supplement crop insurance.

Not a single credit-default swap referenced to investment-grade corporates in any collateralized debt obligation rated by Fitch Ratings defaulted last year, according to a global credit events study the rating agency plans to publish early next month.

HBOS, a U.K. mortgage and savings group, is expanding its equity structuring business with a new hire and a product launch.

Steffen Klein, European head of institutional equity derivative sales, has left Citigroup.

Paul Hand, co-head of Asia-Pacific global markets at HSBC in Hong Kong, has relocated to London.

Options on equity index variance, pioneered toward the end of last year, are now traded as frequently as once a fortnight, according to hedge fund managers.

Merrill Lynch has bulked up its Tokyo credit effort with recent hires for sales and trading.

The New Zealand Debt Management Office, which runs a NZD36 billion (USD26.05 billion) debt portfolio, is looking at using interest rate options in next fiscal year.

Merrill Lynch has hired Paul Horvath, global head of structured credit marketing and distribution at JPMorgan in London.

The number of companies with credit-default swaps referenced to them in Japan has expanded since the start of the year and is expected to grow further in the coming months as Japanese corporates relever their balance sheets.