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CEB plans to print more structured notes and may launch inaugural Sofr bond in 2026
Japanese firm plucks banker from UBS
The Americas derivatives community came together in New York to recognise and celebrate outstanding achievements across the industry
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Singaporean exporters are buying 12-month U.S. dollar, Singapore dollar participatory or target redemption forwards with a 1.30 strike to hedge against weakening of the SGD. -
Credit Suisse is recommending receiving two-year repurchase agreement interest rate swaps on the Chinese reminbi, to position for improvement in liquidity conditions.
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THEAM, the EUR44 billion (USD58.8 billion) asset management division of BNP Paribas, plans to buy a three-month call spread next month on the U.S. dollar against the Swiss franc to express a bullish dollar position.
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Tullett Prebon has filed an application to the U.S. Commodity Futures Trading Commission to become a swap execution facility under Dodd-Frank, three weeks after the final SEF rules became effective.
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The Foreign Account Tax Compliance Act generally imposes a 30% withholding tax on (i) withholdable payments (generally, U.S. source interest and dividends and gross proceeds from a disposition of equity and debt instruments issued by U.S. persons); (ii) foreign passthru payments (a term yet to be defined), if such payments are made to a foreign financial institution that fails to provide certain information about its account holders to the Internal Revenue Service; and (iii) certain payments made by an FFI to an account holder that fails to establish whether it is a U.S. person (or whether it is a non-U.S. entity owned by U.S. persons).
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Regulatory requirements that would force banks to make significant investments in IT and infrastructure that couldn’t be reused in different jurisdictions would be a worrying outcome for dealers, according to Eric Auld, global head of fx at BNP Paribas in London.
