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Hong Kong railway giant MTR Corp., with over HKD99.4 billion (USD12.8 billion) in assets, is considering entering an interest rate swap on the back of a USD600 million bond offering it closed late last week.

Alan Gerstein, a senior credit derivatives trader at Goldman Sachs in New York, has been lured to structured credit start up BlueCrest North America.

Lehman Brothers has reorganized its European equity division and promoted Benoit Savoret and John Phizackerley to co-head the group in London.

The Korean regulator has delayed legislation that would have allowed local securities houses to trade credit derivatives because the houses are not sophisticated enough.

A vertiginous drop in equity implied volatility has made capital-protected products with 100% participation in the underlying possible for the first time since the equity markets started falling in early 2000.

Crédit Lyonnais is transferring Edward Willems, head of distribution and Japanese head of credit derivatives in Tokyo, to London to assume a global role in CALYON, the entity formed out of the Lyonnais and Crédit Agricole Indosuez merger.

Dan Curry, head of international structured finance at Moody's Investors Service in London, is moving back to the States to co-head the corporate finance business.

Morgan Stanley has named Michael Pohly, head of credit derivatives trading in New York, global head of structured credit trading, a newly created role.

Nestlé Finance France has entered a currency and interest rate swap on an AUD200 million (USD155 million) bond issue.

New York state is unlikely to fall into line with the National Association of Insurance Commissioners' position that weather derivatives should be regulated as insurance contracts.

In recent years, Chinese financial institutions, mainly the major banks, have been increasingly engaged in over-the-counter derivatives.