Derivs - Interest Rate

Proposed changes to a form that the US Federal Reserve uses to determine their global systematically important banks’ (G-SIB) capital surcharges has sparked extreme concern among clearing bankers, writes Ross Lancaster.

The MiFID II deadline stands. Firms who don't prepare to meet it won’t receive any grace or favour, the FCA has said. But the tough deadline of January 3, and continued lack of regulatory clarity, means firms that show they've done all they can should escape the worst effects.

European authorities have announced the start of work to identify a risk-free overnight rate, to be provided by the European Central Bank by 2020.

Matthew Kulkin has joined the US Commodity Futures Trading Commission (CFTC) as a director of the swap dealer and intermediary oversight division (DSIO).

Societe Generale has hired Francisco Sottomayor as its head of global markets for Spain and Portugal.

GlobalCapital held its 2017 Global derivatives awards at the Royal Horseguards Hotel in London on Wednesday, September 20.

BNP Paribas has become the seventeenth clearing member of OTC Clearing Hong Kong, the clearing subsidiary of Hong Kong Exchanges (HKEX).

The International Swaps and Derivatives Association (ISDA) released new recommendations on how to manage the recovery and resolution of central counterparties (CCPs) on Monday. The organisation also encouraged regulators to not distract themselves with 'politically driven topics', citing the debate on whether certain clearing houses should be relocated to European Union member states after Brexit.

Mitsubishi UFJ Financial Group (MUFG) has set up a subsidiary in Amsterdam, giving it an option for its securities business once the UK leaves the EU.

The Depository Trust and Clearing Corporation (DTCC) plans to launch a pilot of service to reduce derivative traders' market risk capital requirements.

The Electronic Debt Market Association (EDMA) has penned an open letter to European Securities and Markets Authority chairman Steven Maijoor raising concern that left as they are, MiFID II regulatory technical standards will push trading out of the European Union.

European Union member states are pushing back against the European Commission’s June 13 proposal on supervising clearing houses (CCPs), which could forcefully relocate systemically important institutions to within the EU, with questions of sovereignty and liquidity fragmentation arising.