Asian dealers hit by Korean equity losses

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Several dealers in Asia suffered equity derivatives-related losses in Korea in the third quarter, with losses at Credit Suisse estimated at $150 to $200 million, say Asia Risk sources.

Credit Suisse's losses, equivalent to around 20% of the bank's equity trading revenues in the third quarter, reportedly led to the departure in September of the firm's global co-head of equities, Jim Kreitman, and its global head of equity derivatives sales and trading, Chris Carter. The losses are believed to