Derivs - Interest Rate

There are no novel regulatory rules being prepared in Brazil, according to Sergio Odilon dos Anjos, head of the financial system regulation department at the Central Bank of Brazil.

BNP Paribas plans to merge its electronic foreign exchange trading platforms, Cortex FX and OTC eTrader, within the next three-six months. Doing so will allow investors to trade all fx options and structured products on one platform.

Royal Bank of Canada will begin selling floating rate notes linked to ten-year constant maturity swaps rather than three-month LIBOR to private banks and money managers next week.

The U.S. Financial Industry Regulatory Authority will not intervene in the retail structured products market by banning specific structures that it feels are complex.

Schroders has hired Tom Williams, an ex-interest rates derivatives trader at Jefferies International, as a structurer in portfolio solutions in London, a new role.

New York Portfolio Clearing has named Alexander Broderick as its next ceo, replacing Walter Lukken, who left in February to head the Futures Industry Association.

Introducing an identifier that would determine whether a UCITS exchange-traded fund is synthetic or physical would mislead investors, according to a letter from the Joint Associations Committee on Retail Structured Products to the European Securities and Markets Authority.

Citigroup has hired Geoffrey Weber as a director in the interest rate swaps trading group in New York.

Banco Santander is developing an electronic platform in Europe that will allow investors to trade structured products. The firm is also considering a partnership with a third party distributor.

Volumes in dual range accrual issuances, considered relatively exotic by some, are taking a hit this year even though the current market environment is primed for such structures, according to market officials.

UBS is delaying adding interest rates to its planned fixed income, commodities and currency electronic trading platform because of lack of clarity between the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission on whether brokers will have the same access to swap execution facilities as swap dealers.

Portfolio compression has become an important tool for managing counterparty risk exposure and reducing operational costs and risks in OTC derivatives portfolios.