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Andrew Crockett, president of JP Morgan Chase International, said the current gaps in Basel II's regulatory capital requirements makes it essential the accord evolve toward a Basel III.

Bertrand des Pallieres, European head of derivatives marketing at JPMorgan in London, has taken a leave of absence from the bank.

New York-based Tricadia Capital, a subsidiary of Mariner Investment Group, has hired Terri Magnani from Merrill Lynch Investment Management to work on the asset-backed securities side of its collateralized debt obligation group.

The U.S. dollar has barely moved against the euro over the last week, leading at least one currency analyst to speculate major market players have been actively trading to keep spot away from a large option trigger level.

Merrill Lynch is reorganizing its equity derivatives trading business, following the departure of Steven Phan, one of the group's London-based managing directors who had responsibilities for fund-lined structures, correlation and global sectors trading (DW, 1/24).

Banks, power companies and hedge funds are gearing up to take advantage of the financially settled coal derivatives market.

Rabobank is revving up its newly established Asian equity derivatives operation and plans to launch structured products in Hong Kong.

Derivatives transactions generally are entered into via telephone conversations and subsequently confirmed in writing.

Simon Hussey, former global head of marketing at UBS Principal Finance in London, has joined Nomura in a new role as co-head of European structured solutions.

UBS Global Asset Management has structured an equity growth product with a novel feature that protects capital against inflation.

UBS has hired Aaron Poon, Hong Kong head of rates trading at JPMorgan, for a similar role.

Uniastrum Capital, the London-based hedge fund affiliate of Uniastrum Bank in Russia, has launched what are believed to be the first capital-protected notes linked to derivatives for the Russian market.