Derivs - Interest Rate

Pelagus Capital Fund has cleared its first over the counter interest rate swaps at LCH.Clearnet’s SwapClear using Newedge’s clearing membership.

Structurers in Japan are seeing a return in interest among private bank investors for structured products referencing U.S. dollar 10-year swap rates, as U.S. quantitative easing tapering in the short-term could lead to rates moving even higher.

The Royal Bank of Scotland in Japan is marketing six-month yen-denominated Nikkei 225 contingent payer swaptions to hedge fund investors as a hedge against a selloff in Japanese government bonds and equity.

Trudy Lee, managing director and head of fixed income markets at Credit Agricole in Singapore, has left the firm.

A new platform for trading over-the-counter interest rate derivatives in the U.S. has been launched by a team of former Wells Fargo employees. Derivative Path, based in Walnut Creek, California, has launched with a range of services including hedge structuring, trade execution, record retention and Dodd Frank compliance as well as risk management, operational, legal and accounting support.

Bogac Ozdemir, the ex-head of interest rate swaps at Barclays in New York, has joined ANZ as head of G4 rates trading and e-strategy, Asia.

Six international financial firms have signed up to clear China yuan-denominated interest rate swaps via the Shanghai Clearing House’s over-the-counter derivatives central counterparty, after the CCP started accepting applications late last week.

Algorithmic and high-frequency trading does not affect the volatility of futures prices, according to a report by the Futures Industry Association.

Kevin Walker, the former partner and head of multi-asset sales to pension funds and insurance companies at Goldman Sachs in London, is set to join Citigroup in a new role.

Singaporean exporters are buying 12-month U.S. dollar, Singapore dollar participatory or target redemption forwards with a 1.30 strike to hedge against weakening of the SGD.

Credit Suisse is recommending receiving two-year repurchase agreement interest rate swaps on the Chinese reminbi, to position for improvement in liquidity conditions.

Tullett Prebon has filed an application to the U.S. Commodity Futures Trading Commission to become a swap execution facility under Dodd-Frank, three weeks after the final SEF rules became effective.