Derivs - Interest Rate

Regulators should focus on broad outcomes and similarities between US and European Union trading platforms rather than conduct a granular, rule-by-rule comparison of the two frameworks, the International Swaps and Derivatives Association has said.

The London Stock Exchange Group and Deutsche Boerse are in talks over a potential merger, the boards of both groups said in a joint statement on Tuesday.

Trad-X, a trading platform for interest rate derivatives, has partnered with Eurex Clearing on several initiatives as it looks to boost volume.

Regulators in the US are close to proposing rules that would require banks to lock in derivatives counterparties in other countries to US resolution regimes and give up their termination rights.

Singapore Exchange (SGX) is looking to make changes to rules governing futures trading on the exchange, as well as clearing derivatives and a number of other contract specifications.

Eurex has signed up Crédit Agricole Corporate & Investment Banking as a member of its clearing house for interest rate swaps.

The European Commission made the planned delay to the Markets in Financial Instruments Directive rules official on Wednesday, formally proposing an extra year before the rules need to come into force. The market had expected a delay, as regulators and market participants alike were set to miss the deadline to build and test technical systems.

Financial market regulators finally have something to cheer about, after a host of recent setbacks, as Europe and the US this week took a big step towards aligning their treatment of central counterparties (CCPs). But the move could also heighten competition for clearing banks in Europe.

Europe and the US have taken a big step towards cohesion on their treatment of central clearing counterparties (CCPs), with the European Commission and the Commodity Futures Trading Commission unveiling a common approach towards equivalence between the two CCP regimes.

CBOE Holdings said this week that the administration of the CBOE Volatility Index (VIX), its widely followed benchmark of short term options implied volatility, is now aligned to the Principles for Financial Benchmarks established by the International Organization of Securities Commissions (IOSCO).

US president Barack Obama is asking Congress to double funding, over the next five years, for Wall Street watchdogs through appropriations and user fees as he seeks to impose new liability linked fees on financial firms.

Markit is preparing to launch what it said will be the first tradable emerging markets interest rate swap index.