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Credit Suisse First Boston is investigating a loss of at least $40 million in its mortgage-backed securities book, according to officials at rival firms.

Dwight Jenkins has resigned from the American Securitization Forum where he was executive director.

Daniel Bystrom, a director in equity derivatives trading at Merrill Lynch in New York, has left the firm.

AK Capital Markets has hired Lori Addison as a managing director and head of collateralized mortgage obligations.

Foreign exchange traders snapped up large volumes of euro puts/yen calls on Wednesday to hedge against a further slide in the single currency.

Crédit Agricole Indosuez has lost Medes Ma, credit trading manager in Hong Kong.

JPMorgan has come up with a new way of calculating the correlation of single-tranche collateralized debt obligations that promises to simplify the process.

Lehman Brothers is considering offering novel single tranche collateralized debt obligations that would include interest rate derivatives to offer investors a higher yield and different payout profiles to a traditional credit-only deal.

Arang Varadhachary, head of credit derivatives trading at Lehman Brothers in New York, has joined Deutsche Bank's proprietary credit derivatives desk.

Increased liquidity in credit-default swaps, spurred on by the growth of credit derivatives indices, is decreasing the flexibility of trade documentation.

Merrill Lynch has named Nigel Beattie, managing director and head of institutional equity derivatives sales in Hong Kong, as head of the Pacific-Rim equity investor client group, a Tokyo-based position that had been vacant for nearly a year.

Five-year protection on Rhodia, the French chemicals company, widened 40 basis points last week, after a Les Echos article on Tuesday alleged there is a liquidity crisis at the corporate.