Derivs - People and Markets

The International Swaps and Derivatives Association (ISDA) on Monday spoke up against a potential location policy for central counterparties (CCPs) after Brexit, saying that constraining euro derivatives trades' clearing to the EU 27 would increase price volatility, execution costs and systemic risk.

Former investment firm head Brian Quintenz was sworn in as a commissioner at the Commodity Futures Trading Commission (CFTC) on Tuesday, providing a much needed boost to the organisation's senior staff.

Short-dated CNY swaps have been lightly offered and the 2s/5s NDIRS curve slope has steepened slightly. Meanwhile, the People’s Bank of China is considering expanding its reverse repo operations and its Macro Prudential Assessment reporting requirements have been tweaked, writes Deirdre Yeung of Total Derivatives.

Chilean life insurance company Confuturo this week announced its adoption of Bloomberg’s multi-asset risk system (MARS) collateral management tools, in an effort to manage the demands of new global margin rules.

MUFG has strengthened its London-based credit team, moving one trader over from New York, and picking up another at Commerzbank.

Barclays has hired former Credit Suisse executive Stephen Dainton as global head of equities.

The Hong Kong Exchange (HKEX) will suspend its offering of China ministry of finance treasury bond futures after the end of the year, while no official trading data was disclosed for the Bond Connect scheme in the bourse’s 2017 interim results report.

The International Swaps and Derivatives Association (ISDA) has taken the next step towards a blockchain-enabled derivatives market, publishing a white paper with Linklaters on derivatives documentation that will be compatible with smart contracts and distributed ledger technology.

There’s plenty of arguing about Brexit, but in finance, euro clearing stands out as a particularly bitter regulatory fight. At issue is London’s place as the host of euro trading — and it’s going to go down to the wire.

The Singapore Exchange has admitted its 59th derivatives trading member, I-Access Investors, which is based in Hong Kong.

The North American Derivatives Exchange, owned by IG Group, has some deficiencies in the way it monitors trading violations, according to the US Commodity Futures Trading Commission.

A London daily silver futures contract will trade on the Intercontinental Exchange Futures US platform from September 5.