Derivs - People and Markets

Sharon Bowen, commissioner at the Commodity Futures Trading Commission (CFTC), on Tuesday announced she would be stepping down from her role, while communicating her frustration at the Trump administration’s failure to confirm new candidates.

Hong Kong Exchanges and Clearing — HKEX — on Monday hired Roland Chai from London-based clearing house LCH.Clearnet, and appointed him to the positions of COO of its clearing division, and head of clearing risk solutions.

The European Securities and Markets Authority (ESMA) on Monday said that it would not extend the trading obligation deadline for certain counterparties under the Markets in Financial Instruments Regulation (MiFIR).

The European Commission made a play to snatch euro clearing business for the eurozone this week, proposing new powers to force the relocation of what it terms systemically important third-country clearing houses that clear euro denominated derivatives. Costas Mourselas reports.

Domestic data in China is mostly in line with market expectations. However, mild losses in equities has prompted some receiving at the shorter end of the CNY NDIRS curve, driving a bull steepening move to the belly of the curve, writes Deirdre Yeung of Total Derivatives.

The International Swaps and Derivatives Association (ISDA) has advised European Commission officials against legislating to relocate the clearing of euro denominated products to the Eurozone.

London based clearing house LCH on Monday announced it had appointed Michael Davie to the position of global head of rates.

Clearing experts vigorously debated the topic of central counterparty (CCP) recovery and resolution this week at the Futures Industry Association's International Derivatives Expo (IDX).

The debate on clearing euro derivatives showed signs of heating up on Wednesday, when a French regulator speaking at the International Derivatives Expo (IDX) in London insisted that the activity should take place in the eurozone.

European Securities and Markets Authority chair Steven Maijoor on Wednesday said that any suggestion of further delaying implementation of the Market in Financial Instruments Directive II (MiFID II) was almost "fake news", and that the massive transparency legislation would go ahead as planned in January 2018.

The European Securities and Markets Authority (ESMA) has warned regional regulators against a potential race to the bottom to attract UK business in the aftermath of the Brexit vote, writes Costas Mourselas.

NEX Group has appointed Samantha Wren as its group chief financial officer after Stuart Bridges decided to leave the company.