Derivs - Interest Rate

The UK corporate bond market is getting its first taste of a trend that could dominate liability management in the coming years. Associated British Ports this week asked holders of its £65m 2022 floating rate note to consent to switching the bonds’ reference rate from Libor to Sonia. Alex Radford and Ross Lancaster report.

Global exchange and clearing house operator Intercontinental Exchange has launched a new cloud-based tick-history platform.

CME Group’s fixed income electronic trading platforms business is launching a dealer-to-client Request for Quote (RFQ) trading product for the European repo market.

The International Swaps and Derivatives Association is using its ISDA Common Domain Model (ISDA CDM 2.0) in a pilot involving the UK Financial Conduct Authority, the Bank of England and various financial institutions.

Repo trade clearing service LCH RepoClear has selected the London Stock Exchange’s UnaVista platform to help it meet new reporting obligations under the incoming Securities Financing Transaction Regulation (SFTR).

Richard Glenn has left his position as head of the insurance solutions group for Europe, the Middle East and Asia at Nomura, joining Invesco. Another head of that group departed the bank last year.

US Commodity Futures Trading Commission (CFTC) commissioner Dan Berkovitz has thrown his weight behind new rules covering speculative position limits.

As UK loan, bond and derivative market participants work to the deadline of December 31, 2021 to stop using Libor, one of the biggest hurdles is how to calculate the new reference rate: Sonia.

TP ICAP's data division has launched two new data sets for participants in the euro interest rate options and global inflation markets.

Infrastructure service provider Traiana has begun to provide direct central clearing connectivity to the Eurex exchange for OTC interest rate swaps.

Glenmede Investment Management (GIM) has appointed Stacey Gilbert as portfolio manager in its derivatives team.

Public tension has diminished between European and US regulators over the former’s determination to increase its supervisory powers over clearing houses, but concerns are still simmering, as this week’s testimony from the US Commodity Futures Trading Commission (CFTC) chairman showed.