Derivs - Interest Rate

Allen & Overy, IHS Markit and Smart Communications subsidiary SmartDX on Thursday announced that they had launched a platform to speed up the repapering of derivatives contracts, in anticipation of new regulatory requirements.

The European Central Bank (ECB) has proposed new powers that could allow it to control elements of foreign clearing houses’ operations (CCPs) in “exceptional” crisis situations, according to a leaked position paper. This is likely to escalate already tense relations with US regulators.

Intercontinental Exchange on Wednesday announced that it would be launching its three month futures on regulators’ chosen successor for Libor, the sterling overnight index average, on June 1.

US President Donald Trump will nominate lawyer Dan Berkovitz to be a commissioner at the Commodity Futures Trading Commission, the White House revealed on Monday.

Not a day goes by without some analyst, regulator or senior exchange executive weighing in on where the clearing of euro swaps should reside post-Brexit.

The London Stock Exchange Group has appointed David Schwimmer, a former Goldman Sachs banker, as CEO of the company.

Four major capital markets and banking industry bodies have urged European legislators to change existing rules to allow for more efficient risk reduction in the derivatives markets.

The Financial Conduct Authority on Monday expressed concerns over the potential consolidation of market power in the hands of a few trading and clearing players, saying that a "lack of competition" could result in "higher prices" or a reluctance to invest to meet client needs.

Electronic trading platform Tradeweb has strongly rejected an attempt to pull it back into a sprawling antitrust case that touches most of the US interest rate swaps market’s major sell-side players.

Eurex has announced an all-time high in the clearing of interest rate swaps at its central counterparty (CCP) operations, using the figure to highlight the value of its partnership programme.

Private equity-owned ION Investment Group has been named as the high bidder of the two that have made last minute bids to beat Temenos in the race for UK trading technology company Fidessa.

A pair of gatecrashers have burst into Temenos’ £1.4bn bid for UK trading technology firm Fidessa, with one party offering a 5% premium to the existing deal from the Swiss banking software company.