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Panelists were enthusiastic about FAS 155, the Financial Accounting Standards Board's recent update to derivatives accounting standard FAS 133, saying it would boost participation in the synthetic collateralized debt obligation market.

London-based hedge funds GLG Partners and Ferox Capital Management have lost their credit fund skippers, after a heavy year of trading losses.

Calyon is road showing a seven-year forward-starting collateralized debt obligation which kicks in in year three and pays a guaranteed coupon during the first two years.

German bank IKB Deutsche Industriebank is hedging foreign exchange exposure on a EUR360 million collateralized loan obligation.

JPMorgan has promoted Andrew Pickup, who runs its long/short equity book, to head its equity proprietary business.

Lehman Brothers' European equity recruitment drive is forging ahead, with the hire of a senior hedge fund saleswoman and an exotics trader.

A fear there are too many greenhorn collateralized debt obligation managers has investors concerned, but they also think only a credit blowout will tell them which managers have the necessary skills.

Merrill Lynch has bulked up derivative sales in Hong Kong with a wave of hires.

Monolines are still looking to get into the growing asset-backed securities credit-default swaps market, but are struggling to reconcile their CDS ABS document with that of the dealer community.

U.K. thrift Newcastle Building Society will not hedge a first-of-a-kind hybrid bond because it has failed to raise sufficient investment to merit the cost of a derivative hedge.

Rabobank is getting ready to shift its fixed-income structured products desk from Singapore to Hong Kong in a bid to better tap demand in the growing North Asian markets.

Pennsylvania Real Estate Investment Trust has entered into USD150 million in interest-rate swap agreements to hedge the expected interest payment on a portion of anticipated future long-term debt.