Derivs - People and Markets

The US Commodity Futures Trading Commission (CFTC) has agreed to ease regulations surrounding the use of swaps in connection with loans offered by banks.

The European Council and Parliament signed a deal last week regarding the bloc’s financial supervisors. The European Banking Authority was set to receive new anti-money laundering (AML) responsibilities, but member states blocked some attempts to centralise supervisory powers.

The UK financial regulator has fined UBS a record £27.6m for misreporting transactions, in breach of the European Market in Financial Instruments Directive (MiFiD).

The International Swaps and Derivatives Association (ISDA) has warned that regulatory proposals for calculating derivatives contract exposure could lead to an uneven playing field and increased costs.

Proprietary trading firms have hit out against some derivatives exchange’s plans to introduce passive liquidity protection on some of the contracts that they offer, in an open letter to US regulators.

Two London-based traders from Bank of America’s macro trading business have resigned, GlobalCapital understands.

The Futures Industry Association (FIA) has warned that a diverging global regulatory framework is leading to increased fragmentation across derivatives markets.

Macquarie Group is strengthening its global macro strategy team, adding FX specialists to be based at both its Hong Kong and London offices.

Jonathan Moulds, a banking veteran who worked in board-level jobs at Barclays and Merrill Lynch International, is to become chair of Litigation Capital Management.

Gresham Technologies and RegTek.Solutions have partnered to offer a new solution that enables firms to reconcile front-office trading records.

XTX Markets, the quantitative-driven electronic market-maker, has appointed Serge Harry as chairman of its new French entity and Geoffrey Damien as managing director, head of France.

NatWest Markets has made some hires in strategy across emerging markets, rates and foreign exchange.