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  • LCH adds subordinated financials to credit suite

    LCH adds subordinated financials to credit suite

    LCH’s credit derivatives arm, CDS Clear, has become the first central counterparty (CCP) clearing house to offer clearing of single-name subordinated financials credit default swaps (CDSs).

  • Lyxor launches second suite of ESG high yield ETFs

    Lyxor has launched a suite of environmental, social and governance high yield exchange-traded funds, following BlackRock’s iShares into the burgeoning market for investment products screened for sustainability. The French firm switched its investment grade ETF to follow a sustainable index last year, but opted to create a new product line for high yield.

  • ECB finds market making decline for OTC derivatives

    ECB finds market making decline for OTC derivatives

    A European Central Bank (ECB) survey has found that market making in over-the-counter (OTC) derivatives decreased last year, but respondents were confident of their ability to support the products during bouts of market stress.

  • Santander scores solution for costly undrawn revolver exposures

    Santander scores solution for costly undrawn revolver exposures

    Santander has bought credit protection on two portfolios of undrawn revolving credit facilities, taking advantage of a regulatory decision last year to sharply boost the efficiency of the protection. The deal points the way for banks to cut the costs of providing revolvers, which are usually extended as a ‘loss leader’ for a broader banking relationship.

  • EBA plans to clear up risk transfer tests

    EBA plans to clear up risk transfer tests

    The European Banking Authority will be consulting on its approach to risk transfer by the end of the second quarter, with the treatment of excess spread likely to be a crucial topic for issuers and investors in the securitization market.

  • FIA begs for clarity on margin treatment

    FIA begs for clarity on margin treatment

    The Futures Industry Association (FIA) has called on the US Commodity Futures Trading Commission (CFTC) to change its rules to provide more clarity on the margin treatment for separate customer accounts.

  • People moves in brief

    People moves in brief

    No more Vice at ICE — Barclays places Hill at risk — HSBC picks head of new illiquid credit syndicate unit

  • Vice leaves ICE

    Vice leaves ICE

    Charles Vice is standing down as vice-chairman of Intercontinental Exchange, ending a 20-year career with the company.

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