Derivs - Credit
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The Depository Trust & Clearing Corporation plans to open an office in Japan officially in June-or-July, but it may not be ready for the Nov. 1 start for mandatory clearing and reporting of over-the-counter derivatives.
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Brian Lai, an onshore China yuan interest rate and fx options trader at JPMorgan in Shanghai, has resigned.
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Matt Reid, director of credit derivatives index trading at BNP Paribas in New York, has left the firm.
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Barclays Capital has given Chris Colman, managing director and head of fx derivative trading in Singapore, responsibility for long-dated fx options trading, as part of a management shake up in global fx.
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The Depository Trust and Clearing Corp. along with the Society for Worldwide Interbank Financial Telecommunication has delayed the launch of its legal entity identifier Web portal originally set for June 1 until the U.S. Commodity Futures Trading Commission is further along in its role in setting up the system.
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JPMorgan Chase is likely to remain the leading global fixed-income trader even after new regulations are introduced, followed by Deutsche Bank and Barclays, according to Citigroup analysts.
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Markit will launch an index of credit default swaps referencing corporations in central and eastern Europe, the Middle East and Africa in about four weeks, according to a spokesman.
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Nick Beckmann, head of European credit flow trading at BNP Paribas in London, has resigned.
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Buyside firms should monitor central counterparties on a daily basis once regulations are finalized because of risks associated with margining and counterparty exposure, said Else Braathen, head of the risk management domain at portfolio software firm SimCorp in New York.
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Goldman Sachs delayed the debut of its GSessions electronic fixed-income trading platforms because of “logistical issues.”
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Rahul Darbari, global head of fx options at Standard Chartered in Singapore, is set to join ANZ in a similar role.
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