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UK legislation has created coupon deferability on LT2 within the context of a winding-down situation.

CME has hired Gosuke Nakamura as associate director, FX products, Japan. Reporting to K C Lam, the CME’s head of FX Asia, Nakamura will focus his efforts on growing the exchange’s FX futures and options business in the Asian region. Nakamura was most recently a customer acquisition executive for EBS Japan.

Standard Chartered has lured Oliver Jerome from JPMorgan to be its head of bank sales, Europe and Americas. A former colleague of his at JPM describes him as extremely competent. “StanChart’s thrown down a bit of a marker by getting him,” he claims.

the weeklyFiX is proud to announce it has managed to solve the fat-cat bankers’ bonus conundrum, at least for those traders who work in the European Union.

In the UK, we apparently have a socialist government that has, it is reported, mastered the dark arts of spin. I believe it is the same in other countries. So the FX industry has to realise that while it may feel aggrieved about the public assault on its remuneration structure, moaning will not ease the situation.

Just as I was poised to write about how many platforms are starting to struggle for liquidity, I received news of what appears to be a very successful launch of a new EUR/USD contract.

The CME has also recognised the attraction of smaller contracts to some participants and has launched what it calls Forex E-micros.

I’ve long been a fan of candle charts, not because I especially understand them, but more because I like the way they brighten up my Reuters screen.

One would have thought that he’d been there, done it and got the T-shirt, but David Tait is off to try and climb Everest without oxygen again. Tait has a history of overcoming adversity – he had a go at kick-boxing in his youth, traded USD/DEM at the dead donkey – I mean Lloyds – back in the 1980s, before he sold his soul and moved to Goldman Sachs; more recently he was at Peloton Partners.

Standard Chartered has hired Felipe De Freitas as head trader of Latin American FX options and John Munley as a senior G10 trader. Both will be based in New York and report to Mo Grimeh, who became the bank’s head of trading and deputy head of global markets, Americas, at the end of January. It’s good to see that De Freitas, who was once touted as the most likely replacement for Ian Botham in the English cricket team, but was more recently at Credit Suisse, has so successfully forged an alternative career. Munley was at Royal Bank of Scotland.

Mark Sweeting is believed to have signed on the dotted line for CIBC World Markets as its new European head of FICC sales. He was previously at UniCredit, which he joined from ABN Amro in June 2007 to focus reportedly on US and UK real money sales. He is likely to find the grass considerably greener at CIBC, which has emerged from the ongoing credit crunch in far better shape than many of its peers. The bank is potentially in a very strong position and it has been in the process of building up its capabilities, most notably with the hire last year of Harry Culham, Christian Exshaw and Tim Carrington. The trio did a good job at building up Dresdner as a player in FX before signing what looks like a misplaced deal with Merrill Lynch. Sweeting is said to be starting at CIBC, where he will report to Exshaw, in April.

The CME has announced its annual corporate officer promotions. Among those moving up the corporate ladder are Danielle Dycus, who is now managing director, Europe, Middle East and Africa, and Charles Farra, who becomes director, international sales.