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BNP Paribas is marketing a variation on the popular target redemption note, commonly referred to as TARNs (DW, 7/28/03), with redemption triggered by specified rates spreads.

Calyon has hired Nicholas Gibbins as an executive director and head of structuring innovation in its structured credit and collateralized debt obligation team.

Credit Suisse First Boston has hired a pair of fixed-income salesmen to cover the Nordic region, following a raid by Barclays Capital earlier this year (DW, 6/20).

Deutsche Bank has priced a global basket product with 150% participation and 100% capital protection.

Overnight and one-week implied volatility on dollar/yen options jumped last week after market players rushed to purchase protection for a possible spot move triggered by this weekend Group-of-Seven meeting and a data release by the Bank of Japan.

Equity derivatives traders are looking to make a market in variance options, which are being priced on a bespoke basis by several houses in Europe and the U.S.

The Financial Services Authority sent a letter to chief executives late last month voicing the regulator's concern over inadequate disclosures and some lawyers think this could be a precursor to formal guidance.

The International Swaps and Derivatives Association plans to work with other trade associations to write a paper detailing the most significant issues relating to material non-public information in Europe.

JPMorgan has rehired C.S. Kim, fixed income trader at Samsung Investment Trust Management Co. in Seoul, for a new role on its interest rate trading desk in Seoul, according to market officials.

The Securities and Exchange Commission's proposed rule on hedge fund adviser registration is already having a chilling effect on the hedge fund industry, despite the fact that the rule has not yet been approved, according to lawyers.

The price of protection on British property company Land Securities narrowed 18 basis points last week to 19bps, on the back of a debt refinancing.