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Without a crystal ball, and given the breadth of transactions that can be entered into between parties to an International Swaps and Derivatives Association Master Agreement, it is almost impossible to predict whether a particular provision will benefit one party or the other.

One-month implied volatility on the Aussie dollar/U.S. dollar fell to 13% last Wednesday, down from over 14% the week before, as the Australian currency rallied to its highest level for over a month.

Nomura Securities International has hired Scott Rodman, former managing director in the alternative risk markets group at Deutsche Bank in New York, as first reported on DW's Web site last Tuesday (www.derivativesweek.com).

An increasing willingness by derivatives houses, including Société Générale and Citigroup, to price structured products linked to baskets of European and global mutual funds will likely trigger a flood of issuance, according to distributors.

The price of protection on U.K. retailer Marks & Spencer saw a substantial swing last Wednesday as the market tried to price the risk of a takeover by entrepreneur Philip Green.

Macquarie Bank has shifted its equity structuring focus in Hong Kong from more bullish products to those emphasizing the range-bound market in recent weeks.

The launch of the Select Safe Combination Bond this week will see Scottish Life International coming to market every three months to buy options on the FTSE and Standard & Poor's 500 indices.

Synthetic collateralized debt obligations referenced to loans to small and medium-size enterprises are likely to take off in Asia within the next year.

--Ben McCarthy, senior director and head of Asia-Pacific structured finance at Fitch Ratings in Hong Kong, commenting on the budding collateralized debt obligation of small and medium-sized loans.

Standard Chartered's Debbie Min, head of structured asset solutions for global markets in Singapore, has left the firm.

David Myddelton, professor at Cranfield School of Management, believes regulators should scrap recent accounting changes.

ABN AMRO in London plans to add three senior sales professionals to its Italian credit distribution team.