Derivs - People and Markets

Discussions between European member states over the supervision of foreign clearing houses have prompted potential changes to European Commission legislation that would strengthen the role of central banks and the ESRB, according to a leaked document seen by GlobalCapital.

The Bank of England’s Financial Policy Committee on Tuesday called for UK and EU legislation to guarantee cross-border derivatives contracts, estimating that £26tr worth of uncleared derivatives could be affected by the fallout of Brexit.

Yves Dupuy, Société Générale’s former chief information officer for global banking and investor solutions EMEA, has joined post-trade infrastructure company Euroclear as its CIO, a newly created role.

The index subsidiary of Deutsche Boerse, Stoxx, on Wednesday highlighted the success of its Asia-Pacific indices, as it taps into smart beta strategies.

The German Investment Funds Association (BVI) demanded the relocation of euro denominated interest rate swaps clearing from London to the EU 27 on Wednesday, citing regulatory concerns due to Brexit and lower costs for fund companies.

Mizuho International has hired a managing director from Credit Suisse to take charge of its fixed income business.

Interest rate swap execution platform trueEX has hired Kevin Lupowitz as chief technology officer, the company announced on Monday.

Derivatives markets participants listening in to BBC Radio 4 on Monday morning would have been surprised by a voice that they are more accustomed to hearing in conference halls — that of Christopher Giancarlo, chairman of the Commodity Futures Trading Commission.

Repo traders convened this week in Brussels to rethink how to fix the plumbing of financial markets and mulled using other forms of collateral in the market.

Theodor Weimer, the head of UniCredit subsidiary HypoVereinsbank, will replace Carsten Kengeter as CEO of exchange and clearing house operator Deutsche Boerse, it was announced on Thursday.

Intercontinental Exchange, the exchange and clearing house operator, has reshuffled its top management team, with Benjamin Jackson, formerly chief commercial officer, named president.

European finance ministers are unlikely to reach a deal on clearing house (CCP) resolution when they meet on December 5, despite commitment from Estonia — which chairs the debate — to close an agreement by year's end.