Derivatives - All Articles

  • ISDA Create launches as industry nears IM phase four

    The International Swaps and Derivatives Association (ISDA) launched a full version of its online solution for initial margin (IM) documentation on Thursday in partnership with law firm Linklaters.

    • 31 Jan 2019
  • ESMA signals flex on EMIR clearing, trading obligations

    The European Securities and Markets Authority (ESMA) has indicated that smaller counterparties and other reporting entities should be afforded some wriggle room over the implementation of new clearing and trading obligations. While deadlines for technical compliance are looming, recent amendments to EU regulation should imminently remove uncertainty over the new requirements.

    • 31 Jan 2019
  • Six banks in the pipeline for Deutsche Börse blockchain product

    Deutsche Börse has revealed that six banks have signed up to its blockchain offering for collateral swaps in the securities lending market as it hailed “significant progress” in development of the solution.

    • 30 Jan 2019
  • Oslo Børs acquisition battle revs up with Nasdaq bid

    Nasdaq has made a bid for Norwegian exchange group Oslo Børs VPS, firing up a takeover battle with rival Euronext.

    • 30 Jan 2019
  • ISDA pairs with AcadiaSoft on initial margin offering

    The International Swaps and Derivatives Association (ISDA) has teamed up with software firm AcadiaSoft to automate data transfer as it seeks to better help market participants in coping with the implementation of initial margin (IM) requirements for non-cleared derivatives.

    • 29 Jan 2019
  • CFTC reopens from shutdown with packed agenda

    The US Commodity Futures Trading Commission (CFTC) reopened for business on Monday after a long-running US government shutdown, welcoming back hundreds of employees to their desks.

    • 29 Jan 2019
  • SEBI approves CCP status for pair

    The Securities and Exchange Board of India (SEBI) has granted the status of qualified central counterparty (QCCP) to International Clearing Corporation (IFSC) and NSE IFSC Clearing Corporation.

    • 28 Jan 2019
  • HMT stands strong on EC commodity derivs

    HM Treasury said it was business as usual after the European Commission referred the UK to the European Court of Justice (CJEU) over its failure to charge value-added tax (VAT) on commodity derivatives.

    • 28 Jan 2019
  • Southern Water launches last step in cap stack revamp

    Southern Water launched a tender offer on Wednesday as the last step in a full-scale revamp of its capital structure — a journey which helped RBS handle nearly £1.3bn in uncollateralised swap exposure — in the largest ever repackaging of inflation risk. Ross Lancaster and Owen Sanderson report.

    • 24 Jan 2019
  • Byte Me: the dangerous road to AI in credit

    A few years ago, artificial intelligence was only the hipster’s choice for ‘most important tech innovation in finance’. But AI is fast supplanting blockchain as The Next Big Thing in capital markets. There is a theory that cool things are no longer cool once finance types start to like them. So, in that spirit here’s ByteMe’s guide to the perils of an AI dystopia.

    • 24 Jan 2019
  • Traiana signs with HKEX for clearing service

    Market infrastructure operator Traiana has struck a deal to provide direct central clearing connectivity to Hong Kong Exchanges and Clearing (HKEX), focusing on FX.

    • 24 Jan 2019
  • ISDA sets out CCP guidelines after Nasdaq default

    The International Swaps and Derivatives Association (ISDA) has issued a new set of guidelines for central counterparty clearing houses (CCPs) in the wake of September’s default at Nasdaq Clearing.

    • 24 Jan 2019
  • Hang Seng futures power HKEX volumes

    Hong Kong Exchanges and Clearing (HKEX) has reported record Hong Kong derivatives market volumes, along with a surge in trading volumes at its London Metal Exchange (LME) subsidiary.

    • 23 Jan 2019
  • GlobalCapital Americas Derivatives Awards 2019: the nominees

    GlobalCapital is pleased to announce the nominees for its 2019 Americas Derivatives awards.

    • 23 Jan 2019
  • Mayer Brown hires Baker McKenzie partner

    Derivatives and fintech specialist lawyer Matthew Kluchenek has joined US law firm Mayer Brown as partner at its capital markets practice, based at the firm’s Chicago headquarters.

    • 22 Jan 2019
  • PGGM links up to Eurex buy-side repo clearing

    Dutch firm PGGM has become the first pension fund manager to centrally clear repo using Eurex’s ISA direct service, which offers buy-side tailored clearing memberships.

    • 22 Jan 2019
  • Vol boosts Eurex trading as clearing volume rises

    Eurex trading volumes have risen to record highs amid increased market volatility, while its moves to entice market participants to switch their clearing activity from London to its Frankfurt-based CCP seem to be reaping rewards.

    • 21 Jan 2019
  • Road to repo beckons for Ghana after TRS trade

    Ghanaian banks’ avenues for dollar funding could be set to grow, after one of the country’s financial institutions entered into a total return swap with Société Générale that soothed over bottlenecks in its repo markets.

    • 17 Jan 2019
  • FIA makes case for leverage ratio adjustment

    Industry body the Futures Industry Association (FIA) has submitted a lengthy letter to the Basel Committee for Banking Supervision (BCBS) lobbying for changes to the leverage ratio and how it interacts with derivatives clearing.

    • 17 Jan 2019
  • Eurex Clearing appoints new CRO

    Eurex Clearing's head of risk analytics and model validation, Dmitrij Senko, has been appointed chief risk officer, and is set to formally replace risk management veteran Thomas Laux on July 1.

    • 16 Jan 2019
  • BNPP hires in the Nordics

    BNP Paribas has hired numerous bankers to bolster its corporate and institutional banking presence in the Nordic countries, including senior bankers in equity and derivatives roles.

    • 16 Jan 2019
  • Tradeweb wins approval for Dutch venue

    Trading platform operator Tradeweb has received regulatory approvals to operate trading venues from Amsterdam as it solidifies its preparations for Brexit.

    • 15 Jan 2019
  • Former Credit Suisse clearing exec moves to OpenGamma

    Stephen Plestis, the former co-head of listed derivatives and OTC clearing at Credit Suisse, has become head of sales for the EMEA and Asia region at margin optimisation specialist OpenGamma.

    • 15 Jan 2019
  • SocGen closes first Ghanaian cross-currency TRS

    Société Générale has entered into a $40m cross currency total return swap with Fidelity Bank, the Ghanaian lender, in a trade that participants hope will unlock Ghanian cedi-denominated securities as collateral for further dollar funding.

    • 14 Jan 2019
  • Euronext launches Oslo Børs offer as competition heats up

    Euronext on Monday formally launched its offer to buy Norwegian exchange group Oslo Børs VPS, saying it wanted to position the firm as the “key capital markets hub in the Nordic region”.

    • 14 Jan 2019
  • Shaky prospects could create value in CDS-bond basis

    Last year ended on a sour note and spreads looked set to continue their ascent throughout this year and beyond. But here we are, a little over a week into 2019, and the Markit iTraxx Europe is 10bp tighter than December 31 levels.

    • 10 Jan 2019
  • Byte Me: No security, no problem for Ethereum classic

    This week, a major cryptocurrency suffered an attack that strikes at the very heart of what makes cryptocurrencies valuable. And yet, for some reason, holders (or HODLers in the parlance of those in the know) didn't seem to mind. This raises the question: if a hack happens in the forest and no one cares, did it really happen?

    • 10 Jan 2019
  • Prop traders gear up for another round of capital rules battle

    Specialist proprietary trading firms are readying to spend the first quarter in intensive lobbying after the European Council laid out its stance on investment firm regulation this week.

    • 10 Jan 2019
  • Derivs users yet to alter contracts for Libor's demise, says survey

    A large majority of derivatives users have not yet started to prepare contracts for the end of Libor, according to a survey published on Thursday.

    • 10 Jan 2019
  • Nasdaq Dubai launches Saudi futures

    Nasdaq Dubai has launched a bundle of futures contracts offering exposure to Saudi Arabian corporates.

    • 09 Jan 2019
  • Swedish regulator investigates clearing safeguards after Nasdaq

    Swedish markets regulator Finansinspektionen (FI) on Wednesday called for lawmaker-backed resolution plans for clearing houses, in the wake of a default at Nasdaq clearing last September.

    • 09 Jan 2019
  • Coinfloor sells bitcoin futures arm, pivots to spot markets

    As bitcoin investors reel from losses sustained last year, UK bitcoin exchange group Coinfloor has spun off its futures arm into a new exchange that will be owned by a number of firms and prominent individuals in the cryptocurrency market.

    • 08 Jan 2019
  • Do credit default swaps need a rethink?

    Credit default swaps (CDS) are a complicated product. But the past year has presented a few examples of market participants resorting to ‘creative’ tactics to optimise payouts. If the market fails to respond to concerns around the viability of CDS, the product may have to be rethought.

    • 08 Jan 2019
  • Cboe COO leaves for MarketAxess

    Chris Concannon, Cboe Global Markets' COO and president, will leave the exchange group next week to join electronic trading platform MarketAxess in the same roles.

    • 07 Jan 2019
  • Oslo Børs invites further bids after Euronext offer

    The board of Oslo Børs VPS Holding, the Norwegian exchange group, on Friday said that it would consider alternative bids to acquire it, after Euronext outlined terms for a potential acquisition.

    • 04 Jan 2019
  • Banks face price pressure as deal-contingent competition heats up

    Banks providing specialist derivatives that help private equity firms and companies hedge merger and acquisition and project finance risk enjoyed increasing demand for their products in 2018. But that boost in business flow means that the market has begun this year as an arena of intense competition between banks.

    • 03 Jan 2019
  • OCC has record year as clearing volumes soar

    The Options Clearing Corp (OCC) had a big year in 2018, with cleared options volumes beating record levels set in 2011.

    • 03 Jan 2019
  • Indian regulator orders end of cash-settled equity derivatives

    The Securities and Exchange Board of India has ordered all the stock exchanges under its supervision to move cash-settled equity derivatives contracts to physically settled forms.

    • 02 Jan 2019
  • ICE delays bitcoin futures launch citing CFTC ‘process’

    New bitcoin futures engineered by Bakkt, a cryptocurrency firm set up by Intercontinental Exchange, will be delayed, according to a market notice released by ICE on New Year’s Eve.

    • 02 Jan 2019