Americas
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Euronext has launched AtomX, a service that offers central clearing for bilaterally negotiated derivatives trades that would otherwise have been over the counter.
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Trad-X, the trading platform for global interest rate derivatives, reported on Monday that is has traded more than $2.5tr of swaps since launch, with 2015 having accounted for over half this volume. -
Latin America development bank Corporación Andina de Fomento (CAF) has picked leads for a euro transaction and will hold investor calls this week.
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Mauricio Macri, the conservative mayor of Buenos Aires, outperformed expectations on Sunday’s presidential elections in Argentina, meaning bond markets may receive a fillip on Monday morning.
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In this round-up, the Swiss franc set to become directly convertible with RMB, CCB gets a Zurich branch, QDII2 could launching in Shanghai FTZ, booming RMB trade in Korea, Los Angeles tries to get the edge, DBS launches in Qingdao to leverage Belt and Road plans, and CSOP launches two new China ETFs in New York.
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Sovereigns and quasi-sovereigns continue to dominate Latin America new issues, as Uruguay this week showed that attractive all-in funding costs are on offer thanks in large part to low base rates.
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DCM bankers hope that Mexican lender Nafin’s planned green bond could be the first of many from the country, and that other development banks in Latin America will follow Mexico’s model.
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The prospect of interest rates in Europe remaining low for a long time means that Uruguay is not likely to raise euro-denominated debt “in the very short term”, said a debt official from the country, but the sovereign is looking at the market as a way to continue to diversify its investor base.
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US cruise ship operator Carnival Corp has announced that it will roadshow for a potential bond offering that would mark its return to the euro market after a nine year hiatus.
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US federal regulators have approved a rule that will impose greater margin requirements on swaps that are not cleared through a clearing house, but have amended it to be less onerous for some transactions.
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Fears that a disruptive weather pattern is forming in the Pacific Ocean look set to increase volatility in agricultural and energy markets, but the impact is unlikely to influence futures prices in the near-term.
