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This data is updated every Wednesday Source: JPMorgan

The equity derivatives market, especially in the U.S., is expected to take off this year as investors look for innovative products to counter low interest rates and an uncertain recovery.

Metacapital Management, a New York-based mortgage-backed securities hedge fund with around USD325 million under management, is closing its fund to new investors and seeking a new CFO.

--Patrick Clancy, counsel at Shearman & Sterling in London, commenting on a recent white paper by the National Association of Insurance Commissioners' asserting that weather derivatives should be an insurance product.

Morgan Stanley's energy-trading group is set to buy 241 power contracts throughout the U.S. from Duke Energy Trading & Marketing (DETM) and hopes to close the purchase by the end of this month, according to DW sister publication Power Finance & Risk.

The fall of the greenback against the major currencies and a simultaneous rise in commodity prices set a trend coming into the end of the year and analysts expect to see this continuing in 2004.

The widespread belief that the Federal Reserve will at least signal a rate rise even if it doesn't actually hike rates is expected to encourage corporations with outstanding fixed-to-floating interest rate swaps to unwind the trades.

The credit derivatives market all but closed down last week after Italian dairy producer Parmalat defaulted.

The Chinese market is one of the hottest areas for derivatives and upcoming legislation this year is expected to open the flood gates, giving access to more clients and more products.

Derivatives houses are starting to review the structure of proprietary trading desks to reduce volatility of earnings and keep top staffers.

Derivatives are important risk management tools that have made it possible for financial and non-financial institutions to buy and sell exposures, thereby diversifying their risk portfolio and reducing earnings volatility.

Riccardo Bortolotti, v.p and head of European origination at Duke Energy International in London, has joined Trafigura Group as part of the energy firm's push into originating structured products.