Derivs - Interest Rate

Southern Water launched a tender offer on Wednesday as the last step in a full-scale revamp of its capital structure — a journey which helped RBS handle nearly £1.3bn in uncollateralised swap exposure — in the largest ever repackaging of inflation risk. Ross Lancaster and Owen Sanderson report.

The International Swaps and Derivatives Association (ISDA) has issued a new set of guidelines for central counterparty clearing houses (CCPs) in the wake of September’s default at Nasdaq Clearing.

GlobalCapital is pleased to announce the nominees for its 2019 Americas Derivatives awards.

Derivatives and fintech specialist lawyer Matthew Kluchenek has joined US law firm Mayer Brown as partner at its capital markets practice, based at the firm’s Chicago headquarters.

Dutch firm PGGM has become the first pension fund manager to centrally clear repo using Eurex’s ISA direct service, which offers buy-side tailored clearing memberships.

Eurex trading volumes have risen to record highs amid increased market volatility, while its moves to entice market participants to switch their clearing activity from London to its Frankfurt-based CCP seem to be reaping rewards.

Industry body the Futures Industry Association (FIA) has submitted a lengthy letter to the Basel Committee for Banking Supervision (BCBS) lobbying for changes to the leverage ratio and how it interacts with derivatives clearing.

Eurex Clearing's head of risk analytics and model validation, Dmitrij Senko, has been appointed chief risk officer, and is set to formally replace risk management veteran Thomas Laux on July 1.

Trading platform operator Tradeweb has received regulatory approvals to operate trading venues from Amsterdam as it solidifies its preparations for Brexit.

Stephen Plestis, the former co-head of listed derivatives and OTC clearing at Credit Suisse, has become head of sales for the EMEA and Asia region at margin optimisation specialist OpenGamma.

Specialist proprietary trading firms are readying to spend the first quarter in intensive lobbying after the European Council laid out its stance on investment firm regulation this week.

A large majority of derivatives users have not yet started to prepare contracts for the end of Libor, according to a survey published on Thursday.