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GC Asia
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Ex-TriO sales head joins former boss at CloudMargin
David White, formerly a sales head at CME-owned TriOptima, has joined his former boss Stuart Connolly at CloudMargin, the collateral management technology provider.
02 Apr 2020 -
Calm in cross-currency after Fed soothes dollar trauma
The US Federal Reserve’s unprecedented injections of dollar liquidity calmed conditions after a chaotic month in the cross-currency swap market’s short-end, but traders are looking at its effects on the primary bond markets as the next test.
02 Apr 2020 -
US gives sweet SA-CCR relief
US market participants’ can now use their preferred method of calculating counterparty credit risk (CCR) for derivatives, after US regulators brought the adoption of SA-CCR forward.
30 Mar 2020 -
Derivatives industry pushes for IM relief amid uncertainty
Financial market trade associations are pushing regulators to give relief on incoming regulatory requirements on initial margin, pleading that the coronavirus is causing too much disruption to their members’ business lines.
26 Mar 2020 -
FCA stands firm on Libor transition deadline
After discussions with the Bank of England and the Sterling Risk-Free Reference Rates Working Group over the impact of Covid-19 on companies’ plans to transition from Libor, the UK’s Financial Conduct Authority said on Wednesday that the final deadline of the end of 2021 was immutable.
25 Mar 2020 -
ISDA chief stresses ‘vital’ importance of keeping markets open
ISDA chief executive Scott O’Malia on Monday stressed the importance of keeping markets open despite concerns about the spread of Covid-19.
23 Mar 2020 -
Swaps liquidity collapse adds to SSA burden
Wild swings in the euro/dollar basis swap, and an unreliable interest rate swap complicated bond execution in the SSA market this week. While some liquidity has returned in rates, cross currency swaps are still behaving very strangely.
19 Mar 2020 -
CFTC slashes work from home rules but UK tinkers
The US Commodity Futures Trading Commission gave market participants adapting to working from home some relief late on Tuesday, with sweeping no-action relief on voice recording requirements. The UK’s Financial Conduct Authority hasn’t gone so far, but has offered firms some flexibility.
18 Mar 2020 -
Coronavirus forces change of tactics for SSA new issues
The volatility gripping markets shows no signs of abating, in spite of the best efforts of central banks. Syndicate desks are hard at work, planning how best to bring SSA deals to such a difficult market.
16 Mar 2020 -
Stress test turns real as virus vol hits fever pitch
Financial market participants were left wondering this week if what felt to many like a very vivid stress test had become a complete meltdown, as searing volatility puts all players into crisis preparation mode, write Ross Lancaster, Jon Hay, Max Adams and David Rothnie. Strains are appearing in places where they were not expected, such as the US Treasury market. But markets are continuing to function and some traders have enjoyed exceptional volume.
12 Mar 2020
