Derivs - People and Markets
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MSCI and Barclays have entered into an agreement to create a series of environmental, social and governance fixed income indices.
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Derivatives dealers, with buyside input, are on the cusp of releasing a new documentation protocol that should allow end users to easily make representations and provide disclosures to their sellside counterparts. The protocol will allow the industry to quickly update Master Agreements in time for the supposed Oct. 15, 2012 deadline set out by U.S. regulators for new business conduct standards under Dodd-Frank.
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The Depository Trust & Clearing Corp. has begun testing its new global trade repository service for fx, and is targeting a full launch for the fourth-quarter.
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The Internal Revenue Service has bowed to requests from brokers and custodial banks to delay for a year a requirement that they report their customers’ cost basis in options and debt instruments.
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CME Group has announced that, beginning next week, members that invest in speculative futures positions will pay more in margin as a result of new regulations from the U.S. Commodity Futures Trading Commission.
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RBC Capital Markets has agreed to pay up to USD2.9 million to compensate investors that suffered losses from leveraged and inversed leveraged exchange-traded funds.
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Société Générale reports that profits in the first quarter dropped 20% to EUR732 million (USD962.5 million) from a year earlier, largely because of a revaluation of its debt and loses from the sale of a corporate loan portfolio, but did get a boost from its fixed-income business.
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Futures specialist brokerage GH Financials has hired Steve Martin as its coo.
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Patrick Chia is leaving as head of Asian fixed income at ING Investment Management after just three months in the job.
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Tullett Prebon has agreed to acquire Elevation, a New York-based equities and equity derivatives interdealer broker in a deal valued at USD13 million.
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London-based futures brokerage Marex Spectron is said to be close to a deal for all or part of Schneider Trading Associates, a London-based proprietary-trading firm.