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AXA Investment Managers and ABN AMRO have structured an innovative capital-protected fund for retail investing in credit-default swaps.

Barclays Capital is launching an independent onshore fund derivatives platform in the next couple weeks and will add three to its New York-based structured products sales team, which focuses on equity and fund derivatives, by the end of next month.

Cantor Fitzgerald has started trading variance swaps and has hired Christophe Beguinot, previously a broker at The Link Asset & Securities Company, to man the new business line in London.

MIS Brokers, part of the Cantor Fitzgerald group, has started trading OTC equity derivatives in the inter-dealer market, according to firm officials.

Implied volatility on one-week U.S. dollar/yen options rocketed last week in the run-up to the G7 meeting Feb. 4-5.

WMG, the wealth management company of former Commerzbank board member Mehmet Dalman, will roll out a range of structured products in the second half of the year.

European convertibles issuance will likely fall because of increased regulatory requirements under the European Union's Prospectus Directive, which comes into force in April.

Deutsche Bank is in the process of restructuring its Asian equity business on the back of a senior appointment.

Equity implied volatility has reached record lows in Asia in recent weeks as vols globally continue to slump.

Lehman Brothers' announcement Tuesday that it plans to use Fitch Ratings credit ratings as one of the factors in determining which securities to include in its index had an immediate impact for one company: five-year credit default swaps on TXU Corp. tightened to around 80 basis points from 93bps a week before.

Fortis Bank and IXIS Corporate & Investment Bank have launched a fund for institutional investors which will invest in emissions allowances.