Derivs - People and Markets

LCH RepoClear has raised its margin on several Italian government debt securities, but the market reaction has so far been muted, according to analysts.

Post-trade infrastructure company Depository Trust and Clearing Corporation (DTCC) on Wednesday announced that it would open a new office in Dublin in an effort to sidestep uncertainties stemming from Brexit.

The Alternative Reference Rates Committee, a US body committed to transitioning markets away from interbank offered rates, this week published a letter it had sent to financial regulators and supervisors, asking for clarity on how derivatives contracts referencing the benchmarks would be impacted by amendments crafted to deal with their discontinuation.

MUFG announced this week that it has appointed a new international head of credit sales and trading.

Financial Conduct Authority chief Andrew Bailey on Thursday set out the options for forward-looking term rates to replace Libor, a family of benchmarks that he described as “vulnerable to misconduct”.

The US House of Representatives on Tuesday unanimously approved a bill that aims to increase the risk sensitivity of the capital treatment of certain cleared options.

TP ICAP replaced its chief executive John Phizackerley with its boss of global broking, Nicolas Breteau, on Tuesday, sending the shares spiralling downwards, as the interdealer broker revealed that rising costs were impacting the business.

David Escoffier, former deputy head of global markets at Société Générale and former chief executive at Newedge, is joining impact investing firm Eighteen East Capital as its fourth partner.

Crédit Agricole CIB said on Monday that it had hired Paul Lynn as head of financial institutions sales UK.

The former global head of commodity futures sales at Goldman Sachs, Joe Raia, has joined privately owned futures brokerage R.J. O'Brien and Associates (RJO).

An equity and derivatives strategist who left BNP Paribas in April has won a new job at Citi.

Nomura has unveiled a big redundancy round in its EMEA global markets operation, with more than 50 front office staff at risk. The move comes as volumes in European fixed income disappoint once again, setting banks up for a rough set of second quarter numbers.