Derivs - FX

Royal Bank of Scotland sold USD250 million in one-month at-the-money straddles on the euro/U.S. dollar on Wednesday.

The Australian authorities are looking to clear up uncertainty surrounding close-out netting with flailing domestic financial institutions and insurers.

The Monetary Authority of Singapore will mandate the central clearing of standardized derivatives, but has yet to determine how, and to what extent it will do so, Ravi Menon, managing director of the MAS said at the regulator’s annual report conference today.

Not all derivatives on all days are suited to electronic trading, according to interdealer brokers.

Short-term hedge fund clients of Société Générale bought about USD300 million in one-month U.S. dollar/Brazilian real reverse knock-out put options over the past week.

Credit Suisse has reorganized its Asia Pacific global market solutions group, promoting Carl Bautista, Mervyn Chow, and George Pavey to become the three co-heads of the group, according to a memo from the firm.

The European Securities and Markets Authority plans to launch later this week a consultation on exchange-traded funds that will scrutinize synthetic ETFs.

The outstanding notional of over-the-counter derivatives in South Korea grew 8.3% over the 12 months to KRW6,970 (USD6.57 trillion) through to the end of first quarter, according to Financial Supervisory Service figures.

Dips in euro/U.S. dollar and dollar/ yen spot over recent days extinguished options with downside barriers.

The U.S. Securities and Exchange Commission has delayed implementation of rules that would have barred certain retail fx transactions for a year, until July 16, 2012.

The next wave of derivatives set for clearing will likely include interest rate swap-like non-linear products like swaptions and options, Garry O’Connor, ceo at the International Derivatives Clearing Group in New York, told Derivatives Intelligence in an interview. Cross-currency swaps and swaps with caps and floors will likely follow.

The German Federal Financial Supervisory Authority has ditched a requirement to translate sales documents for foreign Undertakings for Collective Investment in Transferable Securities into German.