Americas

A tumultuous start to the year has made it more expensive to buy hedges, but strategists at banks in New York have some ideas to keep costs in check.

Bankers say that at least two sovereigns from Latin America are considering announcing deals on Wednesday after Chile brought some much needed new issue action to the region on Tuesday.

TriOptima, the over-the-counter post-trade services provider, has teamed up with AcadiaSoft to launch a margin processing service, ahead of new rules on uncleared derivatives.

The first Aluminium Japan Premium Futures contracts traded on Friday, CME Group has said.

The deadline for public comments on a key US swaps regulation is due next week and, unless the Commodity Futures Trading Commission is swayed otherwise, “made up numbers” could drive costs higher for market participants.

A pair of SSAs are set to bring dollar deals on Wednesday, despite worries over the health of the Chinese economy making life difficult for other issuers in the currency on Tuesday.

Though financial institutions and public sector entities were busy issuing bonds on Tuesday, corporate issuance was quiet, despite the success of the only two trades so far this year and increased confidence that European markets can cope with Asia’s difficulties for the moment.

Neuberger Berman, the independent and employee-owned investment manager, has acquired an investment team specialising in options from Horizon Kinetics.

Mondelez, the US food and beverage company, on Tuesday priced a dual tranche Swiss franc deal extending its run of Swiss deals to three and drawing praise for its blinding start in the currency.

The Basel Committee on Banking Supervision has agreed not to increase the leverage ratio requirement — a big win for banks already struggling to stay abreast of new capital rules.

Chile has tightened price guidance on the first bond from Latin America this year, a 10 year euro-denominated deal, to 115bp area over mid-swaps.

Fitch downgraded Odebrecht Offshore Drilling Finance (OODF) from B- to CCC on Monday, highlighting its concerns that the Brazilian issuer’s discussions with bondholders could lead to a restructuring of its bonds.