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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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The European Securities and Markets Authority (ESMA) has asked market participants if it should prescribe which counterparty should be responsible for the creation and transmission of the unique trade identifier (UTI) in trade reporting. The UTI allows two counterparties to pair and match two sides of the same trade at a trade repository, however confusion over how one is generated has blighted reporting since it became mandatory earlier this year.
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A London hedge fund has put on a butterfly trade based on the iTraxx Main three to seven year section of the yield curve, going long risk at the five year point, and short risk the three and seven year points, to play the recent divergence between the three-five-seven year butterfly and the market levels.
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Tim Sharp, ex-FX options trader at UBS in Zurich, has joined BlueCrest Capital Management as a portfolio manager, based in London.
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For anyone who works outside the rarefied world of financial markets, Markit might sound like something an errant tomcat gets up to. But after listing his company for $1.5bn on Nasdaq in June just eleven years after founding it in his garden, CEO Lance Uggla is unlikely to be suffering much angst about his choice of name.
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The European Commission is discussing its rules on anti-procyclicality — measures to prevent the build up of margin required in times of stress — with the Commodity Futures Trading Commission in an effort to grant equivalence to US clearing houses. However, the US must look to reciprocate by acting with deference to other country’s regimes, according to Patrick Pearson, head of financial markets infrastructure at the EC.
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Buyside firms are concerned that some swap execution facilities (SEFs) may make certain derivatives instruments made-available-to-trade (MAT), which competing SEFs or clearing houses will not have the ability to support, therefore negatively impacting the portfolios that they manage.