Derivs - Equity

The market chaos caused by investor panic over Turkey hit the shares of European companies this week, but the risk of a systemic crisis is low, said analysts.

The Futures Industry Association (FIA) has called for greater transparency in efforts by US regulators to determine the method for calculating the notional threshold at which dealers have to be registered as swap dealers.

The cost of insuring Turkish government debt has shot up as Turkey’s president Recep Tayyip Erdogan has refused to give way in a dispute with the United States.

Financial resources dedicated to protecting central counterparties from defaults are becoming increasingly concentrated at two CCPs, according to a report by global watchdogs released on Thursday.

Electronic trading platform Tradeweb has enjoyed a huge spike in interest rate derivatives trading this year, reporting a 118% year-to-date increase in average daily volume for the products compared to 2017.

Barclays has hired Dean Galligan from Goldman Sachs as head of cross asset structuring solutions.

Dee Blake, the head of regulation at ICE Futures Europe, has left the company according to sources.

Barclays ramped up its leverage and commitments to repo and prime finance, helping the firm’s markets business score a revenue bump of 11% and beat analyst expectations, largely thanks to surging numbers from the bank’s equities business.

Derivatives broker RJ O’Brien has settled to the tune of $750,000 with the US Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA), for a failure to supervise irregular activity in a client’s accounts.

Bank of America Merrill Lynch has bolstered its EMEA equities division with a string of new hires, including four new managing directors.

Bank of America Merrill Lynch has made three senior moves in its European client clearing operations for futures, options and OTC products.

The package of business cuts unveiled by new chief executive Christian Sewing earlier this year has already started to bite on Deutsche’s balance sheet, with trading assets plunging and borrowing in repo down 95%. Despite the cuts, though, the bank beat rock bottom expectations this quarter, but still faces a challenge to return to sustainable profit-making, according to analysts.