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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 credit default swap notional that was reported to swap data repositories last week spiked by 41% from the previous week, according to data from the International Swaps and Derivatives Association. This follows five weeks of a consistent uptick in CDS notional, with a combined increase of 119%.
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French corporates have been picking up accumulators on the euro against the US dollar as a tool to buy euros for a more favourable exchange rate by selling volatility in return.
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Hedge funds are looking at going long equity and short credit by buying at-the-money Eurostoxx 50 calls and selling iTraxx Main receivers, in a bid to target equity outperformance in a bullish market.
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Nine banks have agreed to pay £1.5 bn to cover losses linked to interest rate hedging products that were sold to private customers and retail clients since 2001. Many of the products were sold to small and medium enterprises on the understanding that they would hedge against interest rate movements on loans. When rates fell, however, some customers found themselves paying higher fees and facing large break costs to get out of contracts.
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The People's Bank of China (PBoC) triggered a short-end led rally on Tuesday when it sold 14 day repos at lower than expected levels. Swaps were offered and short swap rates plummeted, steepening the 1s/10s curve in the process, writes Deirdre Yeung of Total Derivatives. -
Regulators should be cautious when proposing a clearing mandate for non-deliverable forwards due to the global nature of the fx market, along with regulatory differences between the US and Europe that have yet to be resolved.
