Derivs - FX

The Hong Kong Exchange plans to roll out client clearing within six-to-nine months after its clearinghouse Over-The-Counter Clear Hong Kong begins operations with interdealer trades.

Derivative.com, the Zurich-based multi-dealer structured product platform, has begun offering discount certificates.

Local Japanese financial institutions are diversifying away from U.S. counterparties when entering into swaps contracts in a bid to sidestep or delay registration as a major swap dealer with the U.S. Commodity Futures Trading Commission, according to market participants.

Asia-based corporates have been buying large volumes of structured forwards with so called airbag features that reference the China yuan in a bid to hedge an appreciation against the U.S. dollar.

Bank of America Merrill Lynch has named David Moore and Denis Manelski co-heads of North American rates trading.

Credit Suisse is recommending a play that positions for a corrective move higher in the U.S. dollar against the Canadian dollar by buying two-month topside seagulls.

Investors should play a calendar put spread strategy on the Australian dollar against the U.S. dollar, buying one times six-month AUD/USD put with a strike of 1.01 and selling two times three-month puts with a 0.97 strike, according to a strategist at Société Générale.

LCH. Clearnet has launched its SwapClear Consultancy Certification Program which will certify consulting firms to advise end-users about OTC derivatives clearing.

Deutsche Bank is recommending shorting the U.S. dollar against the Brazilian real.

The Australian Securities Exchange is counting on the launch of new interest rate swaps, equity index derivatives and the establishment of a central clearing counterparty for over-the-counter derivatives to boost revenue as the global downturn hits equity trading volumes.

Institutional investors have been trading one-month 25 delta risk reversals on the U.S. dollar against the South African rand.

Credit Suisse is advising investors to buy a six-month put butterfly on the Australian dollar against the Mexican peso, based on the view that MXN remains cheaper with higher yields in comparison to AUD.