Derivs - Credit

Intercontinental Exchange restated its credit default swap credentials this week with ICE Swap, a newly launched trading platform for cleared credit default swaps, only days after it agreed to sell its Creditex hybrid voice broker credit derivatives business to Tullett Prebon.

Anyone who thinks that a merger between LSE and Deutsche Börse is odds-on now they have shareholder approval should hold that thought — there is still a very long way to go, with many twists and turns ahead.

Digital Asset Holdings, the blockchain firm run by former JP Morgan banker Blythe Masters, has hired a new chief financial officer and made a host of other senior appointments.

US federal agencies have agreed a final rule exempting some commercial and financial derivatives counterparties from having to pay margin on trades not cleared through a clearing house.

The International Swaps and Derivatives Association’s EMEA Determinations Committee has agreed to rule on whether Grupo Isolux Corsán Finance has triggered a bankruptcy credit event, after the Spanish engineering company suspended payments on bonds and sought creditor protection in the US.

GlobalCapital is pleased to announce the preliminary shortlist of nominees for its Global Derivatives Awards 2016. Nominations are based upon market feedback and research conducted in recent months. Winners will be unveiled at a gala dinner in London in September.

Tullett Prebon has entered an agreement to buy Creditex’s US hybrid voice broking business from Intercontinental Exchange.

UBS’ overall revenue beat analyst expectations, but a drop in equity capital markets and derivatives income dragged the investment banking unit to a 15% drop in year-on-year revenue in the second quarter.

The London Stock Exchange and Deutsche Börse are gearing up for a protracted examination by European regulators and competition authorities after the German exchange this week narrowly achieved the required votes from its shareholders to approve the planned merger.

ISDA’s Determinations Committee has scheduled an auction to resolve credit default swaps referencing Puerto Rico, while in a separate auction dealers settled a low final price on Portugal Telecom International Finance contracts.

Back in July 2010, not long after the first Greek bailout, results of stress tests conducted by the Committee of European Banking Supervisors (the predecessor of the EBA) were released on the EU’s banks. They didn’t make for happy reading.

A strong second quarter performance in fixed income trading has bolstered BNP Paribas’ corporate and investment banking results and helped cushion falls in its equities business and domestic retail banking arm.