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The International Swaps and Derivatives Association plans to draft a set of definitions for derivatives on hedge funds and mutual funds.

Nagi Bedawi, an equity derivatives trader at JPMorgan in London, is joining Eton Park, a hedge fund startup.

JPMorgan has relocated Chester Kam, managing director and head of Asian rates trading in Singapore, to Hong Kong.

National Australia Bank plans to merge its corporate and institutional banking division to create an institutional markets and services group in Sydney next month.

Mike Srba, head of corporate credit trading at Royal Bank of Scotland in London, has left to join BNP Paribas in a marketing role.

The Royal Bank of Scotland's Pierre Ferland, branch manager and treasurer in Tokyo, has relocated to London as global head of financial institutions, according to officials at the firm.

An academic study argues there is evidence that stock prices are being manipulated by proprietary traders, according to DW sister publication Compliance Reporter.

U.K. regulator the Financial Services Authority is drafting a reply to a tax discussion paper, which officials say threatens the development of FSA-authorized 'onshore hedge funds' (DW, 9/13).

U.K. investors are being pitched structured products as an alternative to a once-popular type of investment trust, which has been plagued by bad publicity in recent years.

--Paul Crouch, ceo of Direct-Issue.com and former head of equity derivatives trading at Lehman Brothers in London, commenting on the dangers of trying to move the market.

The market reaction to Citigroup's Eu11bn sale of government bonds on August 2 finally bubbled to the surface this week. Amid a confused welter of opinions and an admission of error by Citigroup, the one point of clarity was that such trades are now regarded as unacceptable.

BNP Paribas has hired Andrea Fabbri, head of credit sales at TD Securities in London, as head of structured credit sales for Italy.