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JP Morgan and Dutch pension fund PGGM transacted derivatives margin trade
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◆ Chinese bank treasury shift from USTs to dollar callables considered ◆ Some European SSAs face cross-currency limitations ◆ Previous market staple 'almost non-existent'
Goldman's Hong takes over from Jeroen Krens
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Bank intermediaries eye resurgence in profitable trades
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  • Mexican oil major Pemex has changed the way that it hedges some of its foreign debt liabilities, deploying options instead of cross-currency swaps, a strategy that incoming accounting standards could open up to more corporates.
  • One of the most dramatic sagas to take place in the administrative world of post trade interest rate swap processing looks set to draw to an early close, as TrueEX and MarkitSERV work towards settling their legal dispute.
  • Bitcoin took another big step towards being accepted by the financial establishment when the Chicago Mercantile Exchange announced it would launch a cash-settled futures contract for the digital currency in the fourth quarter of this year.
  • Waiting for a default on Venezuela’s bonds has been like waiting for Godot. Low oil prices and macroeconomic mismanagement have led to a catastrophic collapse in economic activity. Our colleagues in country risk are forecasting a 7.5% GDP contraction.
  • Deutsche Börse marked the first run for its regulatory reporting hub this week, as the reporting obligations for the revised EMIR technical standards came into effect.
  • The West Texas Intermediate light, sweet crude oil futures on CME Group’s Nymex exchange have swelled to record open interest this week, as the oil price has leapt 12% higher in the last three weeks.