Derivs - Interest Rate

Representatives from European Union (EU) member states were debating the role of central banks within the EU on Tuesday, as part of discussions over controversial proposals for a new framework for supervising clearing houses.

European Union governments have pushed back against the European Commission’s proposed changes to the bloc’s financial regulators, opting to roll back the centralisation of power to independent executive boards.

The financial world is looking at proposed European taxes on the digital sector with growing alarm, as a lack of clarity in the planned levy threatens to capture financial services providers, writes Ross Lancaster.

The European Securities and Markets Authority (ESMA) has unveiled regulatory relief for EU counterparties that have non-cleared derivatives agreements with UK entities. The measures aim to help alleviate increased costs that may kick in due to a no-deal Brexit.

BNP Paribas has told between 80 and 90 London-based people in its global markets division that they may need to relocate to the EU in the event of a hard Brexit.

The chief executive of derivatives industry body ISDA has called for more clarity from the European Union over plans to help mitigate the disruptive impact of a no-deal Brexit on derivatives markets.

The US Commodity Futures Trading Commission has finally put forward its much anticipated proposed rules to amend regulation of swap execution facilities.

Representatives from European Union member states are debating the make-up of a proposed body to supervise clearing houses (CCPs), according to leaked documents seen by GlobalCapital.

CME Group has ticked off all of the regulatory approvals needed to forge ahead with its purchase of NEX Group, after the UK Competition and Markets Authority cleared the transaction on Wednesday.

The gross market value of over-the-counter (OTC) derivatives has resumed its precipitous decline after briefly gaining positive momentum between 2015 and 2016, according to figures from the Bank for International Settlements (BIS).

EU Commissioner Valdis Dombrovskis on Tuesday moved to reassure derivatives markets that the Commission would enact measures to avoid market disruption to clearing in a hard Brexit scenario.

The European Central Bank is pushing for greater powers over EU-based derivatives clearing houses, according to a leaked ECB presentation obtained by GlobalCapital. The move follows a successful effort by the ECB to gain powers over foreign clearing houses.