Americas

The International Swaps and Derivatives Association will tighten up the rules governing members of its Credit Derivatives Determinations Committee as it looks to strengthen the process for deciding whether credit events have occurred.

TABB Group, a research and consulting firm focused on capital markets, has hired two analysts to its derivatives practice.

Traders in yen futures may have overreacted to the growth concerns in China, data from the US Commodity Futures Trading Commission (CFTC) has suggested.

General Mills, the US food company, on Monday became the second issuer of the year in the European corporate bond market, printing a €500m floating rate note.

Abengoa Yield, the yieldco spun off by Abengoa, the troubled Spanish renewable energy company, has changed its name to Atlantica Yield, and appointed a new chief financial officer, in a bid to dissociate itself from its parent, which has three months left to avoid bankruptcy.

Markit, the financial information services firm, has agreed to buy Loan/SERV technology assets from the Depository Trust & Clearing Corporation (DTCC) in a bid to expand its loan management services.

Reports on Friday that the Argentine government would begin negotiations with holdout bond investors on Wednesday sparked buying in the nation’s bonds as the sovereign — rated Caa1/CCC+/CCC rated and still in default — proves an unlikely beacon of stability in Latin America.

Lloyds issued the first sterling covered bond of the year and was quickly followed by two overseas issuers who priced deals at successively wider levels.

European high yield specialists hope the continent's market can repeat in 2016 its sharp outperformance compared with the US market last year — but history suggests that the two markets tend not to diverge for long.

Eleven covered bonds were priced in the first week of 2016 despite the onset of European holidays and US non-farm payroll data.

FlexTrade, a New York based trading system provider, looks set to be the latest firm to join the growing field of swap execution facilities (SEFs), gaining a temporary registration from the US Commodity Futures Trading Commission.

Milwaukee, Wisconsin-based Baird Financial Group, which manages some $150bn in client assets, announced a successor to its former chief executive Paul Purcell on Monday.