Derivs - Clearing and Exchanges

Open interest in interest rate swap futures on the Chicago-based futures bourse Eris Exchange has increased 401% year over year, with the second quarter of this year setting a new record.

Overall interest rate trading that was reported to swap data repositories last week dropped by 15% from the previous week, according to data from the International Swaps and Derivatives Association. Overall credit default swaps notional that was reported, however, climbed by 2%.

Turnover in structured products at the SIX Structured Products Exchange in Switzerland declined in June to Sfr1.75bn, a decrease of 9.45% compared to May, according to a quarterly report from the Swiss Structured Products Association.

Dan Day-Robinson, founder and former chairman of GT & GE Group Geneva, has been appointed as a member of the board and vice chairman of the Swiss Futures and Options Association.

Markit is developing a service that will manage the exercise processes and provide electronic legal trade confirmation for fx options. The post-trade service will also help participants reduce operational risk and become more efficient in their management of fx options trades.

Overall credit default swaps notional that was reported to swap data repositories last week dropped by 17% from the previous week, according to data from the International Swaps and Derivatives Association. Overall interest rates derivatives trading that was reported, however, remained relatively flat.

LCH-CME basis swaps, where one counterparty pays a fixed rate on a swap cleared on LCH.Clearnet’s SwapClear versus receiving a fixed rate on a swap cleared by CME Clearing, and vice versa, are to grow in frequency as dealers seek to balance exposure between one or more central counterparties, writes Beth Shah.

Overall credit default swaps notional that was reported to swap data repositories last week increased by 4% from the previous week, according to data from the International Swaps and Derivatives Association. Overall interest rates derivatives trading that was reported, however, dropped by 12%.

The Royal Bank of Scotland has joined US-based futures exchange Eris Exchange to provide clearing services to clients globally.

The Royal Bank of Scotland has joined US-based futures exchange Eris Exchange to provide clearing services to clients globally.

A rapidly approaching deadline for the mandatory clearing of onshore CNY interest rate swaps (IRS) threatens market access for a number of large international banks. Earlier this week the People’s Bank of China (PBoC) detailed China's latest targeted easing move, but the rates market kept its focus on recent strong data, writes Maia Ririnui of Total Derivatives.

The central bank opened the door for increased gold hedging when it gave permission to Titan Group to increase its ability to hedge the precious metal.