Derivs - Interest Rate

Phillip Capital Management is looking to launch two new funds in Singapore, the Phillip S-REIT Fund and the Phillip RMB Bond Fund, according to documents filed with the Monetary Authority of Singapore.

Deutsche Bank has teamed up with ICAP to debut Eurex ICAP Swap Spreads, a benchmark for euro interest rate swaps.

Mandatory clearing applied indiscriminately across markets will increase systemic risk, according to Alexander Justham, director of markets at the U.K. Financial Services Authority.

CETIP, the central depository for over-the-counter derivatives in Brazil, is eyeing the construction of a trading platform for government and corporate bonds and eventually structured notes.

Derivatives market participants see problems with how Basel III accounts for the risk posed by central counterparties.

Citigroup Global Markets Asia and asset manager and investment advisory Tribridge Investment Partners have closed a USD32 million Asia ex-Japan focused synthetic structured note linked to an underlying portfolio of credit default swaps and total return swaps.

The European Securities and Markets Authority has asked for input on what topics in the European Market Infrastructure Regulation to prioritize in creating technical standards.

The level of cleared interest rate swaps as a percentage of total interest rate swap notional outstanding increased from 21% to 50% between year-end 2007 and the end of 2010, according to an analysis published today by the International Swaps and Derivatives Association.

The Financial Services Authority is expanding its reporting requirements for on-exchange derivative transactions that would increase the costs of technology for dealers, according to lawyers.

South Korea’s Ministry of Strategy and Finance will reduce the percentage of fx derivatives that local branches of overseas banks can hold by one-fifth, from 250% of equity capital to 200%, effective July 1.

Global regulation of the over-the-counter derivatives markets is creating a “dramatically different” market for interest rate swaps, according to TABB Group.

State Street Global Markets is growing its interest rates business, both cash and synthetic. Over the next several months it will be hiring salesmen and expanding the types of clients it covers and the products it offers.