Dear Derivatives Week subscriber: 

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here: http://www.derivativesweek.com 

Top stories this week: 
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Bank of China has joined the International Swaps and Derivatives 
Association, breaking new ground as its first Chinese member. An official 
at ISDA called the Chinese banking giant's move a significant milestone, 
signaling the acceptance of international derivative standards by a major 
bank in an immature, but potentially massive market. 

Bank of America has embarked on a hiring spree as part of an aggressive 
expansion of its equity and credit derivative business in Asia, particularly 
Japan. The bank is launching its first equity derivative operations in Japan 
and is also expanding its structured credit products capabilities, 
establishing 
Tokyo as a new hub for structuring, trading and marketing to Asia. 

Member firms of the International Swaps and Derivatives Association 
are divided over the capital adequacy treatment for banks versus securities 
firms in the European Commission consultation paper. ISDA has to resolve 
the controversy before submitting its response to the EC paper by the middle 
of this month.? 

Indian Oil Corp., India's largest commercial enterprise, is gearing up its 
first use of derivatives and has hired a consultant to help it prepare a 
policy 
guideline to present to its board of directors. India Oil could be the first 
public 
sector company to use derivatives.??? 
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