Derivs - Credit

Tumbling volatility over the past months has caused US and European corporate credit risk prices to converge, despite credit investors bracing themselves for diverging monetary policies.

The International Swaps and Derivatives Association has appointed a permanent replacement for David Geen, its former general counsel who left earlier this year, while also naming central counterparty senior executives to its board.

truePTS has appointed a former IntercontinentalExchange official as its first chief executive officer since becoming an independent post-trade derivatives business.

Distributed ledger technology, of which blockchain is one kind, has the potential to revolutionise all areas of financial markets very quickly. But the characteristics that make it a boon to market participants ensure regulators will have a hard job staying on top of it.

Markit, the financial information services firm, has hired an experienced banker to head up index research and development in New York.

An auction this month to settle credit default swaps referencing Norske Skog will produce wildly divergent recoveries for investors at different maturities, terms published by the International Swaps and Derivatives Association (ISDA) have confirmed.

HSBC has announced the structure of its newly combined global banking division, which merges the old capital financing and banking divisions, following the appointment of Matthew Westerman as new co-head of the combined business. The six product teams in capital financing, and the six sector coverage teams in banking, will be replaced by nine combined groups in the new division.

GlobalCapital is delighted to announce the winners of its Americas Derivatives Awards for 2016. The results were revealed at a gala dinner at New York’s Metropolitan Club on June 2. Thank you to everyone who supported the event by attending and for taking part in the pitches that decided who were the best and brightest in US, Canadian and Latin American derivatives over the last 12 months.

As the UK’s EU referendum approaches, associated uncertainty has seen risk in the sterling corporate bond market rise, with liquidity taking a blow.

HSBC has created the new role of head of corporate and institutional digital, which will be filled by Niall Cameron, who had been head of global markets EMEA.

Deutsche Börse and the London Stock Exchange Group (LSE) have confirmed that they will hold a merger vote after the UK’s referendum on European Union membership on June 23, having previously said that Brexit would harm rival US bids, but not their own plans.

Law firm Norton Rose Fulbright has hired a derivatives and structured finance to its Singapore office as partner.