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Bank of Ireland has started to trade credit-default swaps and is looking at using credit derivative indices to hedge its own structured business and overlay the bank's credit portfolio.

Investors in a depositary receipt program sponsored by New York-based firm International Asset Transactions (IAT), which specializes in the securitization and trading of illiquid securities, received early returns after the Bulgarian Ministry of Finance bought back outstanding Brady bonds.

Tim Frost, a veteran of the European credit industry who retired from JPMorgan in March, has been linked with Cairn Capital, a newly minted credit asset manager in London.

Following a front page story in Derivatives Week, this article goes into more detail about the recent decision of the New South Wales Supreme Court in Enron Australia Vs. TXU Electricity [2003] NSWSC 1169.

Derivatives practitioners and attorneys expressed some initial concerns last week over additional requirements placed by the Securities and Exchange Commission's long awaited Short Sale Regulation for short sales on threshold securities.

A group of shipping and freight derivatives professionals, including the former head of freight at inter-deal broker TFS in London, are setting up what is thought to be the first hedge fund to take long/short positions in tanker forward freight agreements (FFAs).

HSBC has hired Matthew Wank, an interest-rate derivatives marketer at Credit Suisse First Boston, in a similar role.

Eric Moore, an equity derivatives trader at JPMorgan in New York, has left the firm. It could not be determined whether Moore, who could not be reached, was headed to a competing firm.

JPMorgan in London has combined its equity, credit and rates derivatives marketing and exotic teams.

JPMorgan has hired Sue Lloyd, project manager at the International Accounting Standards Board in London, to boost its corporate sales effort.

JPMorgan is readying a fund-linked structured products business in the U.S. and has hired Keith Styrcula, a former senior financial structurer at SG Corporate & Investment Banking in New York and chairman of the Structured Products Association, as a senior marketer to build the new business.