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Laurence Black, head of custom indices at Royal Bank of Scotland in London, left the firm a few days ago and is reportedly heading to Barclays Capital in a similar role.
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Members of the U.K. House of Lords have opposed the set-up of a Europe-wide default fund to stave off a clearing house collapse.
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UBS has hired Yash Agarwal as an exotic equity derivatives trader in Hong Kong, reporting to Winnie Chui, Asia head of equity exotics trading for the bank.
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Goldman Sachs is continuing to lose key staff from its Asia fixed income business.
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Minimum capital requirements for correlation desks should be excluded from upcoming European legislation, according to a draft report by Arlene McCarthy, U.K. member of the European Parliament and vice-chair of Europe’s Economic and Monetary Affairs Committee.
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Markit will tomorrow launch a synthetic total return swap index in North America referencing the interest-only component of 30-year fixed-rate, un-securitized residential mortgages.
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Citigroup is recommending investors take a view on fx spot movements and credit spreads while volatility and correlation between the asset classes is still relatively high by historical standards.
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Dimitri Cleanis, a v.p. in exotic equity derivatives index trading at Citigroup in London, is joining Credit Suisse in a similar role.
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Some hedge funds in Asia have recently been spotted using conditional option strategies, with a popular play being the payout of a vanilla equity index option dependent on the movement of one or more FX rates.
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The U.S. Securities and Exchange Commission’s Division of Enforcement wants to hire two to three seasoned structured finance specialists for new posts in its structured and new products unit in Washington, D.C., New York and other SEC offices. The division is currently 1,000 strong.