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JP Morgan has become the second credit derivatives counterparty to go live on T-Zero, the trade processing platform, and put through its first trades this week. It joins Goldman Sachs, which was the original dealer, to go live on T-Zero. The alliance with JP Morgan is a coup for T-Zero as it is one of the biggest global credit derivatives dealers. Additional major dealers are expected in the near future, and "more than five major banks" will be putting trades through T-Zero by the end of November, according to T-Zero president Mark Beeston.

AMP Capital Investors, the asset management arm of Australian life insurer AMP, has hired Gerry Jennings as a senior portfolio manager to develop its new London office for investing in European leveraged loans.

Three more Kazakh banks are set to come to the market over the next few weeks, although this will depend on whether the bid from emerging market funds and private banks remains in reasonable shape. Kazkommertsbank is to issue the country's first international tier one capital security; Bank TuranAlem will sell a $350m three year floater; and Alliance Bank has mandated ABN Amro and Citigroup to lead a five year dollar deal.

Three more Kazakh banks are set to come to the market over the next few weeks, although this will depend on whether the bid from emerging market funds and private banks remains in reasonable shape. Kazkommertsbank is to issue the country's first international tier one capital security; Bank TuranAlem will sell a $350m three year floater; and Alliance Bank has mandated ABN Amro and Citigroup to lead a five year dollar deal.

Rating: Ba1/B+/B+

Kazakhstan's Kazkommertsbank has chosen Bank of Tokyo-Mitsubishi, Calyon, Commerzbank and Deutsche Bank to arrange a $700m loan split between one and three year tranches.

Guarantor: Federal Republic of Germany

Guarantor: Federal Republic of Germany

Rating: Aaa/AAA/AAA

Rating: Aaa/AAA/AAA

Rating: Aa2/AA-/AAA

Hipoteku banka, which is also known as Mortgage and Land Bank of Latvia, has mandated BayernLB to arrange a Eu50m three year deal — syndication is under way.