Derivs - Interest Rate

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.

Natixis has hired Bryan North-Claus as head of fixed income sales Americas, as part of the French bank's push to improve its American business.

Lewis Kaden, a former vice chairman at Citi, has taken a position on the advisory board of Baton Systems, the fintech payments processing company.

LCH SwapAgent has processed its first trades, with Citi and Deutsche Bank becoming the system's first counterparties as they executed a Swiss franc denominated interest rate swap and a euro denominated inflation swap.

Derivative volumes for August rose above those for August 2016 as North Korea's aggressive rocket and nuclear warhead actions increased geopolitical concerns and market volatility.

CME Group on Wednesday shut its London-based derivatives exchange, CME Europe, and clearing house, CME Clearing Europe. All positions that were still open on August 30 have now been closed and settled.

The US Federal Reserve Board is seeking public comment on its ambition to produce three new reference rates based on overnight repurchase agreement transactions secured by Treasuries.

Two Société Générale bankers have been indicted for allegedly manipulating Libor and causing $170m worth of damage to global financial markets, the American Department of Justice (DOJ) announced on Thursday.

Derivatives counterparties in the US have made enormous strides towards compliance with the September 1 end date for a grace period on variation margin rules for uncleared swaps, a stark change from six months ago.

The European Commission said on Wednesday that it wants to bring down “remaining and new barriers” to integrating post-trade services across the European Union. It launched a public consultation, which will run until mid-November, and could be followed by legislative change next year.

A Depository Trust & Clearing Corporation (DTCC) and Euroclear joint venture has this week signed an access agreement with CloudMargin.

IHS Markit on Tuesday released a service for investment houses working to comply with the RTS 28 requirement of the Market in Financial Instruments Directive II (MiFID II).