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◆ Public sector issuers embrace hedge fund bid... ◆ ... as they flex in the swap market ◆ Car makers welcomed back to bond market
CEB plans to print more structured notes and may launch inaugural Sofr bond in 2026
Japanese firm plucks banker from UBS
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The biggest move of the week was news that Gerhard Seebacher, global co-head of FICC trading at Bank of America Merrill Lynch in New York, was retiring. -
—Daniel Maguire, head of SwapClear in the U.S. at LCH.Clearnet in New York, on the testing of client clearing for interest rate swaps in Europe.
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Technically, Uridashi is an autocallable with two barriers and tenors usually from three to five years. The lower barrier is usually struck between 50% to 70% of the initial spot and continuously observed, at which point investors sell the down-in puts to the issuers. The upper barrier is struck at 105%-110% of the initial spot, which is the knock-out or autocall level, observed discretely at every 6-month pre-determined observation dates.
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Should derivatives regulation differ between provinces in Canada, then it could result in market participants having to comply with rules in more than one province and disincentivize dealers from transacting with counterparties based in Canada, according to market participants. Regulators in Canada, however, are aiming for the provincial rules to be identical.
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The European Securities and Markets Authority has secured a delay to the deadline for the registration of the first trade repositories until Nov. 7 from Sept. 24. This means that counterparties will not be expected to report to trade repositories until Feb. 2014.
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Electronic over-the-counter market operator Tradeweb Markets has hired Nomura’s former Global Head of Spread Product Sales Cactus Raazi as head of North American credit. Raazi, who left Nomura Nov. 2012, joined this month. Raazi declined comment.
