Derivs - Interest Rate

Deutsche Börse and CME Group have both reported double digit revenue growth in the second quarter, helped in part by a spike in derivatives trading volume around the UK’s vote to leave the European Union.

Intercontinental Exchange has appointed a founding member of the Bank of England’s Monetary Policy Committee as a director of ICE Benchmark Administration.

The costs incurred to centrally clear derivatives trades could be greater than transacting them bilaterally, US government researchers have argued, in findings that would deal a blow to regulators’ attempts to curb systemic risk in the global market.

Deutsche Börse has narrowly achieved the required votes from its shareholders to approve its merger with the London Stock Exchange Group, meaning only the possible objections of regulators now stand in the deal's way.

The short-end of the CNY NDIRS curve is continuing to outperform the longer maturities as the PBoC keeps the financial system liquid ahead of month-end. Sources are wary ahead of this week's FOMC and BOJ announcements but say firmer domestic data could back more steepening momentum near-term, writes Deirdre Yeung of Total Derivatives.

The International Swaps and Derivatives Association has published a ‘clearing classification letter’ that will enable derivative counterparties to notify each other of their status for clearing requirements under Hong Kong’s mandatory clearing regime.

Improved liquidity conditions have offset the weak yuan to support the short-end of the CNY curve while currency-related export optimism supports paying in the longer tenors. Sources expect further steepening from current levels, writes Deirdre Yeung of Total Derivatives.

US banks, which opened second quarter reporting this week and last, said Brexit had driven ‘new peaks’ in volumes at trading divisions, with signs of market share gains for the US houses as well.

Mizuho Americas has hired Thomas Harnett as senior managing director and head of fixed income sales and trading.

The proposed merger of the London Stock Exchange and Deutsche Börse looks set to allow Frankfurt to prise euro swaps clearing away from London, amid rising expectations that regulators will require the combined entity to move euro business back within the eurozone.

OpenDoor Trading has completed a second investment round as it stays on course for an October launch. GlobalCapital spoke to chief executive officer Susan Estes about the firm’s aims not only to help revive liquidity in the US Treasury market but also to become the first US bond trading platform both majority owned and controlled by women.

OpenDoor Trading has completed a second investment round as it stays on course for a fourth quarter launch. The firm aims not only to help revive liquidity in the US Treasury market but also to become the first US bond trading platform both majority owned and controlled by women.