Derivs - People and Markets

The Basel Committee on Banking Supervision commended international efforts to build “larger” and “better quality” capital and liquidity buffers on Tuesday. But it warned G20 countries that regulatory adoption of rules on the measurement of counterparty credit risk and capital requirements for clearing house exposure has been delayed.

National Multi Commodity Exchange (NMCE) and Indian Commodity Exchange (ICEX) have agreed to merge, with both parties expecting to complete the move by December.

Investor hedging for turbulent Brexit negotiations and US president Donald Trump’s legislative agenda has aided the growth of gold and currency derivatives contracts at the Dubai Gold and Commodities Exchange (DGCX), its CEO said on Sunday.

Market conditions should be set by tangible data points. Pricing trillions of dollars of financial products based on the estimates of a small elite of submitters, however tightly regulated these days, is no longer tenable, and a change is due.

The Financial Stability Board (FSB) praised international efforts to reduce systemic risk and improve transparency of over-the-counter (OTC) derivatives markets on Thursday, while slamming the “opaque web” of exposures that existed before the reforms.

Barclays confirmed on Thursday that it had hired Filippo Zorzoli to head macro distribution for EMEA and Asia Pacific, and head solutions sales globally. The hire forms part of the firm’s rebuild of its macro business, and is likely to be followed by further senior hires, as reported by GlobalCapital in May.

David Lester, London Stock Exchange Group’s chief strategy officer, has departed the company.

Hong Kong regulators on Tuesday decided that delta one warrants will not be classified as over-the-counter derivatives products, mirroring the actions of European Union authorities.

Mark Carney’s Mansion House speech last week was a reminder of the progress global regulators have made in the wake of the 2008 crisis, and the dangers of throwing that away.

The European Central Bank on Friday submitted a recommendation to allow it to regulate “clearing and payment systems”, both within the European Union and in other countries.

The French markets regulator, the Autorité des Marchés Financiers (AMF), has laid out its vision for enhanced powers at the European Securities and Markets Authority (ESMA) to make sure that Europe’s supervisors apply consistent standards.

From September IHS Markit will include UK and Swiss banks at the holding company level in its credit default swap (CDS) indices, but the index provider is still consulting on whether or not to include non-preferred senior debt.