Derivs - Interest Rate

The chairman of the US Commodity Futures Trading Commission (CFTC), Christopher Giancarlo, has apologised for the past imposition of US swaps rules on foreign territories, calling it an “over-expansive assertion of jurisdiction”.

Lloyds Bank is set to bring the first ever FIG benchmark linked to Sonia on Tuesday, alongside three issuers bringing euro benchmarks and one selling a tap.

Two major derivatives industry trade bodies have warned of “fragmentation” and a “severe” impact on cross-border derivatives activity if a looming clearing deadline for certain intragroup transactions is not sufficiently extended.

Deutsche Börse, the parent company of derivatives exchange Eurex, is merging the sales and product design departments for fixed income and equity index derivatives at Eurex.

Dealer banks already entangled in a US antitrust case arising from the interest rate swaps market have filed to dismiss an amended complaint made by electronic trading platform provider TrueEX.

The US Senate Committee on Agriculture, Nutrition and Forestry has confirmed the nominations of Dawn DeBerry Stump and Dan Michael Berkovitz to serve as commissioners at the Commodity Futures Trading Commission (CFTC).

The US Commodity Futures Trading Commission (CFTC) expects to publish new rule proposals for swap execution facilities (SEF) this autumn — reforms that were expected in the summer.

The UK’s preparations for a no-deal Brexit published this week include a proposal to strip away preferential capital treatment for EU27 exposures — meaning a hit to UK bank capital ratios at the worst time imaginable.

Roland Schwinn, the Asia head of derivatives bourse Eurex, will leave the company on August 31 to join Sygnum, a startup looking to offer custody for digital assets, among other services.

Chicago Mercantile Exchange (CME) Group on Wednesday said that it would launch two new interest rate futures referencing the sterling overnight index average (Sonia) on October 1.

The Derivatives Service Bureau (DSB) suggested ways to alleviate concerns from stakeholders over pricing and governance on Tuesday when it published the key findings from an industry consultation conducted in July.

Barclays said on Tuesday that it had hired Justin Brickwood from Goldman Sachs, to take on the newly created role of ‘head of markets innnovation’.