Heinrich Karasek has resigned as chairman of Austrian derivative association Zertifikate Forum Austria (ZFA) after last week leaving his post as financial markets director responsible for structured products at Sal Oppenheim's Vienna office. However, Karasek will remain Sal Oppenheim's representative on the board of ZFA until the end of the year. Meanwhile, Heike Arbter, ZFA board member and head of international trading for equities and derivatives at Raiffeisen Centrobank, was appointed as ZF