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The Americas derivatives community came together in New York to recognise and celebrate outstanding achievements across the industry
The derivatives market gathered in London on Thursday night to celebrate its leading players
Internal restrictions mean SSAs issue fewer CMS-linked notes
JP Morgan and Dutch pension fund PGGM transacted derivatives margin trade
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Overall interest rate derivatives trading that was reported to swap data repositories last week increased by 14% from the previous week, according to data from the International Swaps and Derivatives Association. -
BGC Partners has retaliated once more within hours of CME Group announcing an increased two-tier, front end-loaded tender offer for GFI Group at $5.85 per share, with the interdealer broker offering a fully financed, all-cash tender offer of $6.10 per share.
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CLS Group and TriOptima have teamed up to offer an FX forward compression service in order to address the regulatory requirement for financial counterparties to have procedures in place to analyse the possibility of portfolio compression for non-centrally cleared over-the-counter derivatives.
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CME Group has once again increased its two-tier, front end-loaded tender offer for GFI Group to $5.85 per share, matching BGC Partners’ contingent $5.85 per share all-cash offer announced on 15 January. This price escalation represents the newest development in a nearly eight month bidding war for the firm, and nearly a $0.40 per share escalation since 15 January.
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Fast money investors have been positioning for a post-quantitative easing squeeze on European credit default swap indices, according to strategists at Citigroup in London, who have noted large net long positioning in iTraxx Main and a small net short non-dealer position in Crossover.
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Hedge funds have been trading the relative value between credit default swaps on Italian banks UniCredit and Intesa Sanpaolo as UniCredit’s spreads gap wider because of exposure to Russia and Ukraine. On Monday, five year subordinated CDS on UniCredit were trading at 296bp while Intesa Sanpaolo sub CDS traded at 195bp.
