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Japanese firm plucks banker from UBS
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
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A new platform for trading over-the-counter interest rate derivatives in the U.S. has been launched by a team of former Wells Fargo employees. Derivative Path, based in Walnut Creek, California, has launched with a range of services including hedge structuring, trade execution, record retention and Dodd Frank compliance as well as risk management, operational, legal and accounting support. -
The iTraxx Main rose just six basis points to 107 bps yesterday reflecting temporarily improved liquidity in light of U.S. Senator John Kerry’s promise of military intervention over the use of chemical weapons in Syria. However, the widening is unlikely to continue, according to Juan Valencia, credit analyst at Société Generale in Paris. “This is more a case of poor liquidity and some players wanting to push the indices wider, so people take advantage of the risk aversion,” he said. Valencia also said that geopolitical tensions have historically not been great drivers of long term widening in European credit indices.
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Financial innovation is arming investors with a growing array of vehicles to protect portfolio risk. In the U.S., portfolio managers are increasingly utilizing futures and options on the Chicago Board Options Exchange VIX index as part of hedging programs.
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Bogac Ozdemir, the ex-head of interest rate swaps at Barclays in New York, has joined ANZ as head of G4 rates trading and e-strategy, Asia.
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Japanese structured products, such as so called double deckers and fixed rate notes issued between 2010-and-2011 referencing the Brazilian real and South African rand, will still be carry positive despite recent weakness in emerging market currencies.
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Six international financial firms have signed up to clear China yuan-denominated interest rate swaps via the Shanghai Clearing House’s over-the-counter derivatives central counterparty, after the CCP started accepting applications late last week.
