Derivs - Interest Rate

RBC Capital Markets has hired Steve Feinstein to lead its corporate derivatives marketing team in New York.

The U.K. Financial Services Authority has found significant inconsistencies in the way asset managers manage their derivatives risk.

The Japan Securities Clearing Corp. is working with LCH.Clearnet to ensure technology and economic systems are compatible for interest rate swap clearing in order to make a future link-up possible.

The International Swaps and Derivatives Association has called for liability caps for clearinghouse members should the clearinghouse default.

Proposed rules floated by the European Securities and Markets Authority to improve the ways firms market investment products, such as structured products, through prospectuses, has been slammed by issuers.

South Korea is proposing legislation that would create a licensing framework for central counterparties and mandate clearing for any transaction that can significantly affect a market or markets if counterparties default.

Schroder Investment Management expects GBP200 million (USD326 million) from U.K. defined benefit pension schemes to come in over the next couple of months for its new synthetic gilt funds, which were launched last week.

The International Accounting Standards Board has scrapped a project to converge the offsetting of financial instruments, especially derivatives, under U.S. generally accepted accounting principles and International Financial Reporting Standards.

Americans love a good debate. American politicans live for it. Thriving in the limelight and the 15 minutes of fame they have found, the last week’s worth of political juxta-positioning over the U.S. debt ceiling has begun to leave some thinking that the individual political gain is bigger than the collective desire to resolve the issues at hand.

Mutual fund firms that trade in derivatives should create separate derivatives committees, have a mechanism for identifying the risk of a particular derivative instrument and have regular educational meetings with the fund’s board of directors, according to senior legal and compliance officials at Franklin Templeton Investments and T. Rowe Price Associates.

Derivatives dealers are eyeing automated global collateral tracking and transformation systems as a means of differentiating themselves in post Dodd-Frank markets.

Beverly Hills, Calif.-based Regatta Research and Money Management is currently looking to price enhanced growth structures on the iShares MSCI Pacific ex-Japan index exchange-traded fund as well as the iShares S&P Latin America 40 Index ETF or a basket comprised of ETF’s from Brazil, Chile, and Mexico.