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--Matthew Reid, hybrids trader at UBS in London, on the significance of the first one-year credit option.

Barclays Capital is gearing up to launch the first real estate-flavored retail structured fund in Singapore.

Lehman Brothers has recruited two treasury marketers from BNP Paribas for its fixed income desk in Hong Kong, according to firm officials.

Gary Cottle, managing director and head of European corporate derivatives sales at Barclays Capital in London, has quit the firm.

The trading frenzy normally whipped up around the bi-annual roll of the iTraxx indices failed to materialize last Monday when the new series 5 suite was introduced.

Players who lost money on Cendant credit-default swaps last week, when the company announced it would not guarantee debt at recently spun-off unit Avis, have been trying to get lenders to persuade the company to change the decision.

Credit Suisse has signed up Kaan Basaran, managing director in structured products sales to the Middle East at Merrill Lynch in London, to head its investment banking division in Istanbul.

Citigroup is preparing to establish a regional hybrid trading desk in Hong Kong on the back of growing interest for cross-product exposure.

Daiwa SMBC recently launched a USD40 million AAA rated repackaged bond which contains an emissions rights trading component--a first in the Japanese market.

Mike Chun, a director in equity derivatives sales at Deutsche Bank in New York, has left the firm.

Nancy Fahmy, a director in the private wealth management group at Deutsche Bank Asset Management in New York, reporting to Tim Foxe, has left the firm.

The first inter-dealer credit option with a one-year maturity has traded, underscoring the expansion of the liquidity frontier in the mart.