Derivs - People and Markets

Some big, highly rated US companies have in the last few months begun to negotiate 'holidays' from their credit support annexes - the arrangements with banks that protect both sides when they engage in derivatives transactions.

The International Swaps and Derivatives Association has appointed three new directors to its board, from Eurex, DBS Bank and Nomura.

A senior European Commission official has defended the EU's record on regulation since the financial crisis, amid complaints that global derivatives markets have become fragmented.

The International Swaps and Derivatives Association has partnered with Digital Asset, the enterprise blockchain company, to develop an open source reference code library.

Deutsche Börse plans to buy Axioma, an analytics company in the US, and combine it with its index businesses Stoxx and Dax, establishing a new separate company worth around €3.5bn.

A new survey from the International Swaps and Derivatives Association suggests derivatives trading will grow in Asia, but that uncertainty over close-out netting could stand in the way of the market’s development.

Torstone Technology, a post-trade securities and derivatives processing technology provider, has agreed to acquire Percentile, a risk and compliance technology provider.

Société Générale is looking at cutting around 1,600 jobs across the group, while also closing its over-the-counter (OTC) commodities business and proprietary trading firm.

Deutsche Bank has become the first German bank to offer client clearing through CDSClear, the Paris-based clearing house of LCH.

Data modelling firm Simudyne, which uses an innovative approach to simulating market scenarios, has said its technology will help banks execute trades, as different asset classes grapple with algorithmic trading and risk predictions. The company has closed a new round of fundraising led by Barclays.

The European Securities and Markets Authority has launched a fresh round of stress tests for EU central counterparty clearing houses. It will include a new component to measure the cost of liquidating concentrated positions. ESMA said UK CCPs would be excluded from the exercise in the event of a no-deal Brexit.

Freight Investor Services, the London freight and commodity brokerage, has unveiled a new commodity derivatives trading system, in partnership with KB Tech, a UK fintech company. It will enable trading and clearing of freight-related contracts on exchanges including SGX, Nasdaq, EEX and CME.