Derivs - People and Markets

Oktay Senturk, head of Central and Eastern Europe, Middle East and Africa rates trading at Credit Suisse, and Brent David, director of emerging markets credit trading, both in London are set to leave the firm. The moves come as the fixed income division is letting go 65 staff from its U.K. fixed income department this week.

DTCC Derivatives Repository and UnaVista are among the four trade repositories approved by the European Securities and Markets Authority under European Market Infrastructure Regulation today.

Mark Carney, governor of the Bank of England, and Martin Gruenberg, chairman of the U.S. Federal Deposit Insurance Corporation are among the regulators pushing the International Swaps and Derivatives Association to change its master agreement to allow for delays in the closing out contracts when a credit event strikes.

Mark Carney, governor of the Bank of England, and Martin Gruenberg, chairman of the U.S. Federal Deposit Insurance Corporation are among the regulators pushing the International Swaps and Derivatives Association to change its master agreement to allow for delays in the closing out contracts when a credit event strikes.

The U.S. Commodity Futures Trading Commission has issued a letter providing extended relief regarding registered swap execution facilities for fx swaps.

A group of 20 international counterparties in Singapore will start voluntarily submitting trade data for over-the-counter interest rate and credit derivatives traded in Singapore from Feb. 3, 2014, ahead of the mandatory April start for financial firms.

Counterparties may be disincentivized from choosing to segregate their collateral following final rules from the U.S. Commodity Futures Trading Commission addressing the manner in which swap dealers hold collateral for uncleared swaps.

Charles Bennett, an ex-director in the prime brokerage team at Deutsche Bank in Hong Kong, has joined Citigroup.

Royal Bank of Scotland has reshuffled its credit and interest rate sales team in Europe.

Cantor Fitzgerald Europe and LCH.Clearnet have created the first centrally cleared over-the-counter contract for difference in Europe to accommodate calls from clients for a reduction in risk to CFD providers and regulatory pressure to up the proportion of cleared OTC contracts.

Rabobank has been fined by regulatory authorities for more than USD1 billion in connection with investigations linked to the firm’s historical Libor and Euribor submission processes.

Barclays has hired David Fernandez, former chief economist and head of market strategy, emerging Asia at JPMorgan in Singapore, as a managing director and head of fixed income, currency and commodities research, Asia Pacific.