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Structured products boutique Luxembourg Financial Group and Swedbank recently launched a fund that uses short- and long-term options to capture growth from a range of underlyings while employing a mechanism to help mitigate losses in case the fund performs badly.
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Patrick Pearson, head of financial markets infrastructure within the European Commission's internal market division in Brussels, told Derivatives Week in an exclusive interview with London reporter Rob McGlinchey that the Commission is collecting data from dealers and end-users with a view to drawing up a benchmark of bid/ask spreads. The aim is to help shave users' hedging costs and determine how expensive it would be on top for users to clear their trades.
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Thomas Williams, an exotics rates trader formerly with Commerzbank in London, has joined Jefferies International in a newly created role.
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David Arnold, Asia head of fixed income institutional sales for BNP Paribas, left the firm last week.
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Amias Berman & Co., the fixed income advisory, origination and brokerage, is close to scoring a license from the U.S. Securities and Exchange Commission that will allow it to do business with U.S clients using an onshore broker’s license.
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Bank of America has hired Joseph Kraft to head up the firm’s Japanese fx sales and trading business in Tokyo.
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Forward volatility agreements—which allow users to speculate on future volatility—are growing in popularity among real money managers such as pension funds and insurance companies.
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Raymond Wong, a managing director at Goldman Sachs in Hong Kong and a member of the firm’s China corporate coverage team, left the firm last week and is tipped for a structuring role at UBS.
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Barclays Capital has launched five-year structured notes, with a portion referencing three-month Euribor and another three-month Swiss franc Libor.