Derivs - People and Markets

The US Commodity Futures Trading Commission is setting up a new subcommittee in a bid to resolve concerns around margin requirements for non-cleared swaps.

Intercontinental Exchange has launched a new open architecture ETF platform, a move to to simplify the creation and redemption process for equity and fixed income ETFs.

The European Securities and Markets Authority (ESMA) has called for improvement in national regulators’ supervision of derivatives data.

The Financial Stability Board’s (FSB) annual progress report, published on Tuesday, shows that during the last year there has been little progress in implementing agreed G20 reforms to over-the-counter (OTC) derivatives.

The UK’s Financial Conduct Authority has fined interdealer broker Tullet Prebon £15.4m over various alleged failings, including broker conduct. The FCA claimed “lavish entertainment” and a “lack of controls” had allowed improper trading to take place.

Antagonism between the United Kingdom and European Union in Brexit negotiations is making interest rate and credit swap market fragmentation more likely by the day, as market participants in both jurisdictions solidify backup plans to trade on US swap execution facilities (SEFs).

A new report from the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) has set out the governance of key over-the-counter (OTC) derivatives data elements.

The US Federal Reserve has given its final approval to amendments of the Volcker Rule, joining four other US regulatory agencies in backing relaxations of prop trading restrictions.

LBBW and JP Morgan have claimed first execution of an electronically negotiated euro short-term rate (€STR) swap transaction, on Bloomberg’s UK multilateral trading facility (BMTF).

MUFG has hired a new head of its derivatives solutions group in EMEA from HSBC.

The loan market still needs “much more work” in shifting away from Libor, as do its derivatives, the Bank of England warned on Monday.

The European Securities and Markets Authority has issued a call for evidence on the effects of product intervention measures regarding CFDs and binary options on market participants and clients.