Derivs - Credit

Credit Suisse has launched Advanced Strategy Fund to Japanese institutional investors and domestic funds.

It was an uneventful week in the sovereign credit markets. The Labour Day holiday on Tuesday meant that much of Europe took the opportunity to enjoy a long weekend.

null

Schroders has expanded its fixed-income team with the hiring of four top executives, including James Barrineau head of Latin American fixed income and co-head of emerging-market debt relative return sector.

Concerns over margin requirements set by clearinghouses and central counterparties were a key concern expressed by attendees at the International Swaps and Derivatives Association’s 27th Annual General Meeting in Chicago.

The Commodity Futures Trading Commission will complete the 20 outstanding rules as mandated by the Dodd-Frank Act by this year, said CFTC chairman Gary Gensler, speaking at the International Swaps and Derivatives Association 27th Annual General Meeting in Chicago.

U.S. prudential regulators need to provide more clarity to end users as to whether or not firms will be able to net exposures across cleared and uncleared swaps, or swaps that are monitored by different regulators, said Ted Macdonald, managing director and treasurer at D.E. Shaw on a panel today.

The International Swaps and Derivatives Association will invite central counterparties to participate as non-voting observers in determinations committees that decide when an underlying has had a credit event.

Stephen O'Connor, chairman of the International Swaps and Derivatives Association and managing director of over-the-counter client clearing at Morgan Stanley, has called for uniform derivatives regulations in an attempt to ease extraterritoriality concerns.

Buyers of euro-denominated quanto credit default swaps on Spain and Italy say that a potential bailout from the International Monetary Fund and the European Central Bank for the countries could weigh heavy on the value of the contracts.

Goldman Sachs is set to roll-out a structured note that combines exposure to equities, commodities, currencies, and Treasury bonds in what is known as a best-of basket format. Such structures are rarely seen in U.S. structured products.

The European regulation curbing both short selling and naked credit default swaps on sovereign issuers came into force 25 March.