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  • Buysiders accelerated clearing of interest-rates swaps in February to a record USD22 trillion notional volume through LCH.Clearnet’s SwapClear ahead of the March 11 effective date of mandatory clearing under the U.S. Dodd-Frank law.
  • Bipartisan lawmakers in the Senate and the House of Representatives are expected to introduce legislation that would repeal part of the Dodd-Frank Act and permit banks that have federal insurance to trade more swaps.
  • Italian lender Monte dei Paschi di Siena is planning to sue two of its former executives as well as Nomura and Deutsche Bank for USD1.2 billion in damages from losses it claims arose from two derivatives trades.
  • Spreads on U.S. corporate credit default swaps tightened to a mid-price of 82 basis points, the narrowest level since March 1, 2011, according to the Markit CDS North American Investment Grade Index.
  • Cantor Fitzgerald has strengthened its fixed income sales team with the hiring of John Livingstone as managing director and Michael Miller as director to focus on boosting institutional sales and structured products business.
  • Italian lender Monte dei Paschi di Siena is planning to sue two of its former executives as well as Nomura and Deutsche Bank for USD1.2 billion in damages from losses it claims arose from two derivatives trades.