Derivs - People and Markets

Bloomberg has launched a so-called List Trading tool for interest rate swaps on its swap execution facility, enabling market participants to improve operational efficiency.

Jefferies has lost its head of sterling credit sales.

The dust is still settling from the results of the Asset Quality Review and bank stress tests, but it seems clear that the catharsis European officials hoped for has not materialised. The AQR, in particular, was worthwhile and bank balance sheets are more transparent. But it doesn’t follow that Europe’s banks will now embark on a lending spree. Lack of demand remains the underlying problem, which could present a challenge for Monte dei Paschi di Siena. Meanwhile, deflation looms — a scenario, incidentally, that the stress tests didn’t consider.

Phil Cramp, ex-head of credit for Europe, Middle East and Africa at ICAP in London, is set to join BGC Partners as head of credit, repo and European government bonds in London from December 1.

Market participants have relentlessly been selling risk-reversals and volatility on the dollar against the yen, as the spot rate on the pair has largely remained range-bound over recent days.

Deutsche Bank has hired a new head of fixed income and currencies structuring, who will also lead a project to analyse trading positions right across the investment bank and allocate capital appropriately

The Hong Kong Exchange has extended its After Hours Futures Trading (AHFT) session by 45 minutes for its Hang Seng Index futures, H-Shares Index futures, Mini HIS futures, Mini HHI futures and renminbi currency futures. The close of the after hours futures trading clearing session will also be extended.

Overall credit default swap notional that was reported to swap data repositories last week decreased by 38% from the previous week, according to data from the International Swaps and Derivatives Association. This follows a consistent uptick over recent weeks in CDS notional, which has seen a 160% increase over the period.

The Korea Exchange’s US Dollar Futures contract will be available after-hours on CME Group’s electronic trading platform, Globex. This will be effective from December 8 in order to provide international market participants increased access to the Korean markets.

The Royal Bank of Scotland had hired Colin Holdstock, ex-head of fx options for Asia ex-Japan at Nomura, and Glen Goh, ex-deputy global head of Asian fx and global head of Asian non-deliverable forwards at Standard Chartered, as managing directors in its Asia Pacific markets business, both based in Singapore.

BTIG has said it will offer its European clients equity derivatives trading beginning in 2015 as part of a massive expansion to European business, including the hire of three sales traders.

The clearing industry could face increased systemic risk thanks to incoming Basel III regulations on capital charges if more clearing providers, or futures commission merchants as they are known in the US, are forced to close.