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Credit was the last major traded asset class not to have a liquid option market.

Barclays Capital has hired Michel Iskander, managing director and European head of structuring at Deutsche Bank, and Kevin Burke, managing director and European head of private banking coverage at Credit Suisse First Boston, for similar positions.

Barclays Capital has hired Uwe Becker, covering equity sales to Germany at Calyon in London, for a similar role.

Bristol & West Financial Services has purchased equity-default swaps in a still rare example of using the instruments for a retail product.

The newly-formed French derivatives house Calyon has transferred Jean-Paul Brassier, head of exotic equity derivatives in London, to Hong Kong in a new role as Asia ex-Japan head of credit and equity derivatives.

Collateralized debt obligation structurers are adding to their menu of CDO extras because investors are increasingly looking to tailor deals to meet their specific risk profiles.

Commerzbank is structuring a five-year medium-term note that gives investors exposure to the growth of six actively managed funds via an at-the-money call.

Citigroup Global Markets is considering merging its fixed income structuring and structured corporate finance teams.

Institutional investors are starting to purchase structured products linked to foreign exchange hedge funds.

Exchange traded funds on the Dow Jones CDX indices could hit the market in a year's time while listed futures are anticipated to take off in as little six-months.

Deutsche Bank plans to add its name to the growing list of international shops applying for an onshore derivatives license in China in the coming weeks.

Deutsche Bank has hired Tom Spahr and Kevin McGoldrick, equity flow salesmen at UBS, as directors in equity flow sales for its New York office.