Americas

ICE Clear Credit, the credit derivatives clearing unit of Intercontinental Exchange, has been recognised as a third-country (non-EU) central counterparty (CCP) under European rules.

On the eve of the G20 summit in September, the US and China formally ratified the Paris Agreement, boosting the chances it will become international law before the end of the year. At least 55 countries accounting for 55% of global emissions must ratify the treaty for this to happen. With China and the US accounting for 38% of global carbon emissions between them, the announcement was a major step forward for the agreement.

After a sluggish start, Latin American green bond activity is picking up. But for green financing to really gain influence, it needs to continue its progress in domestic markets. Olly West reports.

There are signs of resistance from bondholders struggling to see the value in primary bond deals, but Latin America’s new issue market marched on this week with three corporates issuing on Thursday.

Peru took advantages of renewed enthusiasm for its economy and highly favourable market conditions to sell PEN10.252bn ($3.02bn) of 12 year sol-denominated bonds as part of a liability management exercise on Wednesday and Thursday.

Ecuador surprised some bond investors by doubling the size of its 2022s on Tuesday despite being unable to tighten pricing from initial price thoughts.

US corporate issuance came close to registering a record volume for September as triple-B rated borrowers lapped up strong demand on either side of the US Presidential debate.

The US Commodity Futures Trading Commission has expanded its interest rate swaps trading rules to require a range of additional products to be cleared through major central counterparties.

Preparing for MiFID II regulations will cost market participants over $2bn in 2017 in IT bills, a study by IHS Markit and Expand has found.

Intercontinental Exchange has named a replacement for the president of its ICE Clear US operation, Thomas Hammond, who will leave the post at the end of this year.

Peru continued to chip away at its dollar debt on Wednesday with a nuevo sol-denominated 12 year bond, the new money component of which will be used to finance a cash tender for dollar bonds.

New York-listed aircraft leasing company Aircastle has sent invitations for a $75m unsecured financing through a single mandated lead arranger and bookrunner.