Derivs - People and Markets

Governor of the Bank of England Mark Carney on Thursday urged markets to adopt alternative benchmarks to Libor like Sonia, saying that Libor was "overly reliant on expert judgment rather than actual transactions".

Proponents of the ISDA Common Domain Model say that if properly implemented, it could generate major cost savings for financial institutions. But what is it, what prompted its creation and how could it work with distributed ledger technology?

The impasse between European and US regulators on the mutual recognition of each other’s clearing supervision regimes shows no sign of a breakthrough, as representatives from both authorities clashed at the Institute of International Finance spring membership meeting in Brussels this week.

A former executive director at the index provider MSCI has begun a new job at State Street, GlobalCapital has learnt.

Antoine Porcheret, a senior equity derivatives strategist at BNP Paribas in London, has left the French bank.

Leading bookbuilding and data firm Ipreo, owned by Goldman Sachs and Blackstone, has been sold to data provider IHS Markit for $1.855bn, a move that could change the balance in the battle for the next generation of primary markets technology.

The chairman of Deutsche Börse, Joachim Faber, on Wednesday said he would leave his post after a transition period before serving his full three-year term.

Barclays has made another stride in the regrowth of its markets business, rehiring a derivatives trader for a senior role in its equities division.

In a document recently circulated at EU level, Paris labelled the MiFID II equivalence regime “inappropriate”, and called for a tighter procedure — a clear move to limit UK funds’ access to EU markets after Brexit.

The advisory arm of Hermes Investment Management fired both barrels at Deutsche Börse chairman Joachim Faber on Tuesday, partially blaming him for the implosion of the proposed merger with the London Stock Exchange Group in 2016

Members of the European parliament are set to shorten the clearing suspension mechanism proposed last year by the European Commission, according to draft amendments seen by GlobalCapital.

Société Générale has hired a veteran derivatives trader as its head of equities and equity derivatives.