Derivs - People and Markets

Swedish markets regulator Finansinspektionen (FI) on Wednesday called for lawmaker-backed resolution plans for clearing houses, in the wake of a default at Nasdaq clearing last September.

Chris Concannon, Cboe Global Markets' COO and president, will leave the exchange group next week to join electronic trading platform MarketAxess in the same roles.

BCS Global Markets has Edward Shek to head its equity trading desk. Before joining BCS, Shek was head of CEEMEA cash trading at JP Morgan.

Vice-chairman of the Depository Trust & Clearing Corporation Larry Thompson has retired after 37 years working at the firm.

The European Central Bank has said that its swap arrangement with the Bank of England, which would help financial firms access liquidity in a foreign currency, would not be affected if the UK leaves the EU with no deal.

Natixis’s share price plunged on Wednesday after the bank reported a €260m hedging loss in its Asian equity derivatives business, an event which some analysts say other firms could suffer in 2019.

The European Commission has finally confirmed that it will grant temporary equivalence to UK central counterparty clearing houses (CCPs) and central securities depositories (CSDs) in the event of a no deal Brexit.

European Union member states are set to soothe banks’ concerns about having too tight a window to change their risk-free euro reference rate from Eonia, with a postponement of the transition to Ester due on Wednesday.

The Bank for International Settlements has publish a research paper exploring the risks that spring from the close linkage between banks and clearing houses (CCPs) through OTC derivatives.

US lawmakers have penned their first major reform of the policies drawn up to make banks safer after the financial crisis, and signs suggest that further deregulation could be on the cards during president Donald Trump’s remaining time in office. Tyler Davies asks if this is the beginning of the end for the international push towards tougher banking rules?

Financial markets are often seen as cold, calculating machines for making money. That is part of their function. But increasingly, people are talking of markets’ broader social purpose — that they exist to serve humanity and make its existence healthier and more sustainable. Toby Fildes argues that, 10 years on from the crisis, this new ethos will govern the markets’ future.

US swaps participants are emerging from a month of analysing proposed reforms of swap execution facilities (SEFs), with old fault lines opening up between institutions over how they think the rules will change the market landscape.