Derivs - FX

The International Swaps and Derivatives Association has called on the Japanese Financial Services Agency to ensure clearing requirements for derivative transactions, particularly those that are cross-border, be consistent with regulation in overseas countries when it implements its Financial Instruments and Exchange Act.

Martin Belvisi, global head of interest rates and foreign exchange structuring at Bank of America Merrill Lynch in London, has left the firm. It could not be determined if a replacement had been lined up.

Short-dated call purchasing pressure on the euro/U.S. dollar from banks and institutional investors Thursday led to a spike in volatility and a tilt of the risk reversal towards more expensive call options.

The Bank for International Settlements’ Basel Committee will in the next two to three weeks issue a final consultation on the capitalization of dealers’ exposures to a central counterparty’s default fund.

Deutsche Bank has been named the Global Derivatives House of the Year by the editors of Derivatives Week/Derivatives Intelligence. At a gala event at the Four Seasons Park Lane Hotel in London this evening, the bank scooped the top prize and also a number of asset specific awards. Also among the winners were CQS, Credit Suisse, Royal Bank of Scotland and ICAP.

The International Swaps and Derivatives Association, the Institute of International Finance and the European Association of CCP Clearing Houses are calling for more time to discuss punitive rules on the capitalization of exposures to central counterparties.

The Brazilian government has delayed implementation of a 1% tax on fx futures transactions approved until December due to complexity of the market and technical difficulties.

Standard Chartered is recommending investors buy three-month U.S. dollar/Taiwanese dollar non-deliverable forwards to take advantage of a weakening TWD, caused by slowing growth and an outflow of equity from Taiwan.

The International Swaps and Derivatives Association plans to publish maps of the types of derivatives within different asset classes in the next several weeks.

Flow in euro/U.S. dollar puts has increased over the last few weeks, bringing the risk reversal to 3.68% at press time—a near-record level.

The latest version of the European Market Infrastructure Regulation could give market participants more leeway in clearing intragroup transactions, according to speakers at yesterday’s International Swaps and Derivatives Association’s European conference in London.

Barclays Capital has sold over USD36 million in a structured note which combines the performance of three currency baskets, each referencing three currency crosses.