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The price of protection on DaimlerChrysler jumped four basis points this week to 94bps in reaction to press speculation that the corporate intends to increase its stake in Mitsubishi Motors to a majority holiding, said traders.

Citigroup has hired Gohir Anwar and Robert O'Donoghue, fixed-income structured sales staffers at Deutsche Bank in London, for its structured corporate products group.

International derivatives shops, including Citigroup, HSBC, Bank of America and Standard Chartered, are getting ready to start dealing directly with Chinese end users on the back of receiving new derivative licenses imminently.

Daiwa Securities SMBC is considering starting to trade equity default swaps referenced to single stocks in the coming months.

Deutsche Bank has hired Andrew Yaeger, formerly an equity derivative marketer at Bear Stearns, as v.p. responsible for corporate equity derivative marketing in the firm's strategic equity transactions group.

Deutsche Bank has demonstrated its commitment to China in a recent reshuffle of its Asian credit derivatives team, by shifting Feng Gao, head of integrated credit trading in Singapore, to Shanghai.

Implied volatility on the dollar/yen currency pair jumped last week as the greenback appreciated against the Japanese currency in the spot market.

Dexia Bank has purchased single-stock digital options and a zero-coupon bond to structure a capital protected eight-year maturity instrument.

The potential exists for a cross-border market for emissions trading.

Goldman Sachs has apparently racked up substantial losses on Korean equity barrier options. It is believed to have executed more than USD600 million (notional) in one-year barrier options early last year.

An interbank market on Japanese equity-default swaps has emerged in recent weeks kick-started by growing interest in the nascent instruments as well as demand for securitizations referenced to the products.

JPMorgan has handed its hedge fund derivatives template to the International Swaps and Derivatives Association with the aim of starting discussions about a standard document.