Derivs - People and Markets

The World Federation of Exchanges (WFE) on Friday said that the leverage ratio should recognise the exposure-reducing nature of initial margin, becoming the latest body to call for change on the issue.

Andrew Bailey, CEO of the UK Financial Conduct Authority (FCA), on Thursday backed calls for deference espoused by US Commodity Futures Trading Commission (CFTC) chair Christopher Giancarlo, in a speech at the Eurofi Financial forum in Vienna.

Marco Meijer has joined BNP Paribas as a senior interest rates strategist.

The chairman of the US Commodity Futures Trading Commission (CFTC), Christopher Giancarlo, has apologised for the past imposition of US swaps rules on foreign territories, calling it an “over-expansive assertion of jurisdiction”.

Two global initiatives aiming to improve transparency in markets have announced a partnership to link codes that identify market participants and the financial instruments they trade.

Cinnober Financial Technology has appointed three individuals to key roles across its business, including Fredrik Nihlén as group CFO.

Deutsche Börse, the parent company of derivatives exchange Eurex, is merging the sales and product design departments for fixed income and equity index derivatives at Eurex.

Matteo Andreetto, the CEO of Deutsche Börse index subsidiary STOXX, will formally leave the company on September 30 to join an asset manager.

The US Senate Committee on Agriculture, Nutrition and Forestry has confirmed the nominations of Dawn DeBerry Stump and Dan Michael Berkovitz to serve as commissioners at the Commodity Futures Trading Commission (CFTC).

One of the central planks of the UK government’s policy on how the financial services sector would cope with a no-deal Brexit could turn out to be illegal under World Trade Organisation rules, and could be challenged by other WTO members.

The UK’s preparations for a no-deal Brexit published this week include a proposal to strip away preferential capital treatment for EU27 exposures — meaning a hit to UK bank capital ratios at the worst time imaginable.

Roland Schwinn, the Asia head of derivatives bourse Eurex, will leave the company on August 31 to join Sygnum, a startup looking to offer custody for digital assets, among other services.