Derivs - Interest Rate

The International Swaps and Derivatives Association is calling for the industry to establish a standardized way of representing centrally cleared or electronically traded derivatives, and a central registry to collect and disseminate that information.

Scott O'Malia, commissioner at the Commodity Futures Trading Commission, questioned the commission’s margin proposal that seems to require individual segregation of customer margin accounts for over-the-counter derivatives.

PRAGUE -- The European Securities and Markets Authority will determine which derivatives entered into before clearing was required will be forced into the regime and required to post margin, according to the latest European Council paper seen by Derivatives Week.

PRAGUE – Buysiders and sellsiders are fretting over a Commodity Futures Trading Commission idea floated Monday which has been interpreted as requiring both initial margin and variation margin to be held by third party custodians.

Tan Sri Zarinah Anwar, chairman of the Malaysia Securities Commission, said government-backed growth in the derivatives market is an integral part of the newly announced Capital Markets Masterplan 2.

Royal Bank of Scotland has lost four institutional and corporate solutions structurers in Hong Kong, including Chun Ng and Steven Tsang, both directors, according to an official familiar with the moves

PRAGUE – The International Swaps and Derivatives Association has elected Stephen O’Connor, managing director and global head of over-the-counter client clearing at Morgan Stanley, as the association’s new chairman.

PARIS -- Dealers will have to find ways to price counterparty risk, especially as derivative transactions by corporates may be exempt from clearing obligations.

Philip Tsao, a managing director and head of the asset owners sales group the Asia derivatives distribution group at Morgan Stanley in Hong Kong, has left the firm, according to officials familiar with the move.

The U.S. Commodity Futures Trading Commission has proposed exempting manufacturer end users from margin requirements under the Dodd-Frank Act, splitting with a measure unveiled by other regulators that is more limited.

PARIS -- Major swap dealers are aiming to pool data to provide a single transparent price on a daily basis for zero coupon inflation swaps.

Asian countries are waiting to move on regulation of over-the-counter derivatives and treatment of fx contracts until they receive clarification on rules being adopted in the U.S. and Europe, according to market players.