Derivs - Interest Rate
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The Council of the European Union has approved its final version of a controversial legislative proposal that seeks to overhaul the bloc’s oversight of clearing houses. -
LCH, London Stock Exchange Group’s majority-owned clearing house, cleared over one quadrillion dollars of over-the-counter interest rate derivatives in 2018.
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The Bank of England's Financial Policy Committee on Thursday said that recent assurances from the European Commission on derivatives clearing were not enough to alleviate hard-Brexit disruption.
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NatWest Markets has hired a senior BNP Paribas rates trader to head its US dollar linear rates trading team.
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The International Swaps and Derivatives Association on Tuesday said the derivatives industry seemed to have broadly agreed on a method of calculating replacement rates, known as fallback rates, for interbank offered rates (Ibors), in case those rates stop being calculated.
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The European Securities and Markets Authority (ESMA) on Friday said that its board of supervisors supported “continued access” to UK clearing houses in a no-deal scenario.
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Barclays has hired two interest rates options traders in London, as it seeks to grow the business and expand its product offering.
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TrueEX, the New York-based electronic trading platform provider, will carry on its legal fight against 11 dealers after a US district court ruled against the banks' motion to dismiss the suit.
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Dan Berkovitz, the US Commodity Futures Trading Commission’s newly appointed Democratic commissioner, has selected a new chief of staff and special counsel to assist him.
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Regulators' attempts to incentivise market participants to clear derivatives centrally have broadly worked, according to global watchdogs, though there are lingering concerns.
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London-based clearing house LCH has started processing swaption trades through its SwapAgent service, making a play for the largely uncleared market.
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The European Commission, on Tuesday, told UK clearing houses and securities depositories to pre-apply to the European Securities and Markets Authority (ESMA) for recognition, should hard Brexit take place.
