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Carl Nabar, former senior foreign exchange options trader at AIG Trading Group in Greenwich, Conn., is heading to BNP Paribas in New York to take on a similar role.

One-month implied volatility fell to 10.8% last Thursday, down from around 11.4% the previous week, after trading quietened in the lead up to the U.S. Memorial Day long weekend.

Dresdner Kleinwort Wasserstein is setting up a credit hybrids team and has hired Tong Lee, global head of trading at General Re Financial Products in London, to lead the charge.

Vivendi Universal, a French media and telecommunications group, published improved first-quarter results last Thursday, causing the price of protection to fall.

New York-based hedge fund manager Alpine Analytics Management will likely enter over-the-counter equity derivatives in its soon-to-be-launched market-neutral fund.

George Weiss Associates, an equity-based hedge fund in New York, plans to start trading credit derivatives as part of a high-yield effort.

HSBC International has structured a transferable fund that offers exposure to China.

The Inter-American Development Bank's highly-anticipated weather-linked bond deal in Taiwan has been postponed. ABN AMRO is structuring the deal and it is referenced to part of Entergy-Koch Trading's weather portfolio, according to officials (DW, 3/14).

High-yield credit-default swaps are at the beginning of a huge growth cycle that will likely outstrip that of high-yield bonds, according to Jared Epstein, managing director in credit derivatives trading at Morgan Stanley in New York.

Lehman Brothers is believed to be setting up a dedicated equity prop trading operation in London.

Barclays Capital has hired Peter Toolan, v.p. in interest rate derivatives marketing at Merrill Lynch in New York, in a similar role.