Derivs - Interest Rate

LCH has begun clearing Swiss Franc interest rate swaps referencing the Swiss Average Overnight Rate (Saron), with Basler Kantonalbank, Credit Suisse and Zürcher Kantonalbank among the first to clear using the new benchmark.

Quantile Technologies has completed its first compression run for client derivative positions held at LCH, executing the exercise in euro interest rate swaps.

A partner at Mayer Brown in New York has moved to Linklaters, which is pushing to expand its US capital markets business.

Jakob von Weizsäcker, the European Parliament's co-rapporteur for draft central counterparty (CCP) clearing house resolution regulation, said on Monday that he will table an amendment to create a new resolution fund for the entities, a move that could cost €500bn but is unlikely to happen.

Electronic trading provider Tradeweb has begun electronic swaptions trading with investment firm Garda Capital Partners executing a transaction in the product.

European and US derivatives regulators have struck common ground in their approach to electronic trading and agreed equivalence in their oversight of the OTC market, a move that will reduce margin requirements for cross-border market participants.

Europe needs to upgrade its supervisory regime for clearing houses, the economic and monetary affairs committee of the European Parliament heard this week as it debated a European Commission proposal to relocate powers.

ESMA has published an updated list of third country central counterparties that can offer their services in the European Union, with three Indian institutions joining the list.

Deutsche Börse-owned Eurex Clearing announced a new partnership programme, which was six months in the making, this week that will offer its clearing members revenue share and governance rights.

Commissioner Brian Quintenz of the US Commodity Futures Trading Commission gave the high frequency trading industry a boost this week in a speech that confirmed the end of a regulatory bugbear for algo traders.

Commissioner Brian Quintenz of the US Commodity Futures Trading Commission gave the high frequency trading industry a boost this week in a speech that also asked questions of the burgeoning cryptocurrency markets.

On Tuesday the European Commission (EC) voiced favour for statute amendments that would increase European Central Bank (ECB) regulatory powers over central counterparties (CCPs).