Derivs - People and Markets

Eurex boasted strong results generated by its Repo Partnership Program as it declared a 24% jump in trading volumes.

The European Securities and Markets Authority (ESMA) will recognise UK-based clearing houses in the event of a no-deal Brexit as it seeks to mitigate market disruption.

Deutsche Börse has reported a sharp fall in fourth-quarter profits despite a strongly positive contribution from financial derivatives amid increased market volatility.

Commerzbank has faced some resistance from staff over moves from the UK to continental Europe in preparation for Brexit, although the bank says those who have moved have no regrets. Meanwhile, margin pressure has been weighing on the bank’s corporate clients division, but there were positive signs in its financial institutions business last quarter.

Two numbers stood out in Natixis’ fourth quarter results: the €259m loss from Asian equity derivatives, and the €249m of performance fees generated by its asset and wealth management business.

Trading network Liquidnet has appointed Brian Conroy as president with a mandate to grow the business organically and through acquisitions.

The European Council on Tuesday confirmed its position on the review of the European system of financial supervision. It maintained that supervisors should not be funded by private firms, but agreed to give the European Securities and Markets Authority (ESMA) more power. But there is now a rush to find an agreement with the European Parliament before its members go on leave for May’s elections.

MSCI advised clients to move away from credit default swaps (CDS) as a means of hedging credit risk, as research said it may no longer be the most effective method of making short-term hedging bets.

Euronext has raised its offer to buy Norwegian exchange group Oslo Børs, firing the latest shot in a bidding war with rival Nasdaq.

The European Parliament and European Union member states are holding talks on a set of EMIR amendments that would, in advance of Brexit, firm up European powers to relocate clearing houses (CCPs) of systemic importance for the euro.

ICBC Standard Bank has hired Daniel Britz and Brendan Melvin to join its risk management department.

BNP Paribas (BNPP) this week reported major losses from derivatives trades after being hit by the sharp rise in capital markets volatility towards the end of 2018.