Derivs - Interest Rate

trueEX, the interest rate swap trading platform, has added BNP Paribas as a market maker, taking its pool of global derivatives dealers to 21.

Icap has promoted a senior official to run its EBS BrokerTec fixed income electronic trading division.

truePTS, a post-trade service provider for derivatives processing, has unveiled truePTS Counterparty Manager, a counterparty data management solution developed in partnership with LEI Smart.

Last week’s rollout of margin rules for uncleared swaps in the US, Canada and Japan has been characterised by some participants as a ‘mad scramble’ that was lucky to muddle across the finish line without disaster. But having observed the challenges the US faced, European regulators must think carefully about how they implement their own margin deadlines, sources have warned.

CME Group has expanded its reach in both Asia and Latin America, with Hong Kong and Mexico recognising the firm as a central counterparty (CCP).

The International Swaps and Derivatives Association has published a document to help market participants navigate the challenges of trading with counterparties in China.

The CNY steepening move is continuing but expected to meet resistance soon. China's bond market faces joint regulation from PBOC and CSRC. ICBC is planning a dim sum bond issue, writes Deirdre Yeung of Total Derivatives.

Major banks and their counterparties in Canada, Japan and the US entered a last gasp drive this week to comply with new margin rules on uncleared derivative trades ahead of Thursday’s deadline. But while most of the market looked to have averted disaster on the day, one of the key regulatory officials behind the rules had harsh words for the way in which they had been imposed.

The United States has unseated the United Kingdom from its long dominance of over-the-counter interest rate swaps (IRS) trading, according to an industry report this week.

In concert with Thursday’s roll out of margin rules for uncleared swaps, the International Swaps and Derivatives Association has gone live with an industry standard model to calculate initial margin on uncleared derivatives trades.

The Financial Stability Board has singled out removing barriers to over-the-counter derivatives reporting as a priority for G20 leaders ahead of their summit in Hangzhou this weekend.

Symbiont, a startup technology firm specialising in smart contracts and distributed ledgers for financial markets, has named a former Morgan Stanley senior banker as president and chairman of its board of directors.