Derivs - FX

The China National Association of Financial Market Institutional Investors’ is reportedly planning to require counterparties to start using its master agreement for all yuan-denominated derivatives contracts, including offshore CNH deals.

The Canadian Securities Administrators could impose undue regulatory requirements on the jurisdiction’s structured product industry if they do not amend a current proposal that attempts to regulate securitized products alone.

Jerome Cohen, managing director, global head complex FX products at Standard Chartered Bank in Singapore, has moved into a new role based in New York.

European regulators have expressed unhappiness with rules adopted last week by the U.S. Commodity Futures Trading Commission dealing with swap data repositories.

Credit default swap spreads on senior and junior bonds of 25 European banks have doubled since April as investors view negatively the financial institutions’ need to raise roughly USD116 billion in cash by year’s end.

LCH.Clearnet is looking to expand its credit default swap service beyond the eurozone to become more international in scope, according to Ian Axe, ceo of the LCH in London.

Average global credit default swap liquidity reached its highest level Aug. 19 since Fitch Solutions began tracking CDS in March 2006.

The U.S. Securities and Exchange Commission has made what is believed to be the first publish comment on the whether fx trading is considered proprietary trading under the Volcker Rule.

Regulators and industry officials should collaborate to create global identifiers for over-the-counter derivatives counterparties and an international product classification system, according to a consultative report by the Committee on Payment and Settlement Systems and the Technical Committee of the International Organization of Securities Commissions.

A U.S. bank picked up approximately USD350 million in risk reversals on the U.S. dollar/Japanese yen cross maturing in two years this morning, likely in preparation for the signal of a third round of quantitative easing by the Federal Reserve this Friday at its annual symposium in Jackson Hole, Wyo.

Thomas Hyer, global head of quantitative analytics at UBS, has left the firm.

The to-be-launched Henderson Horizon Emerging Markets Currency Fund will invest primarily in fx forward contracts, but also use over-the-counter spot and swap transactions to achieve its investment objectives, according to documents filed with the Monetary Authority of Singapore.