NEW YORK - Publicly disclosed losses attributed to derivatives have grown to $10 billion since the market's inception a decade ago, a new report says.

Tanya Styblo Beder, co-principal of Capital Market Risk Advisors, wrote recently that pension and mutual funds alone have racked up $1.7 billion in losses since January.

She estimates the notional size of the derivatives market at $37 trillion.

Of that total, $22 trillion is in over-the-counter instruments such as swaps, caps, floors, forwards, and options.

TORONTO -- Canadian Imperial Bank of Commerce has hired Albert Yu as head of structured marketing at CIBC Woody Gundy Financial Products.

Mr. Yu, formerly co-head of derivatives marketing at Bankers Trust in Canada, will be based in Toronto and work with CIBC's derivatives marketers in New York. He will be responsible for marketing derivatives products throughout Canada.

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