Derivs - People and Markets

Deutsche Bank has novated some of its SSA new issue swaps to a US bank, according to a source with knowledge of the situation, in a move which should help the bank stepping in to cut its risk position. The sale comes shortly after Deutsche said in a strategy update that it wants to improve its SSA operation.

Mizuho has hired another banker as part of its expansion in West Coast investment banking. The bank has been building out its tech team in its San Francisco office, but has now hired for healthcare investment banking as well.

A German MEP reignited the explosive topic of London-based euro clearing on Tuesday, proclaiming that “EU citizens decide on their own money.” A move to force euro clearing to take place inside the eurozone could raise the cost of derivatives collateral and damage risk management, lawyers warned, as well as denting the City's position as a financial centre. Costas Mourselas and Jean Comte reports.

The European Securities and Markets Authority (ESMA) has released its opinion on the European Commission’s proposals for EU regulations on central counterparty (CCP) recovery and resolution. ESMA, while applauding the proposals in general, disagreed with the Commission's suggestion that its supervisory and monitoring role can be carried out using existing resources.

The former chief operating officer of the Options Clearing Corporation (OCC), Michael McClain, has joined the Depository Trust and Clearing Corporation (DTCC) as general manager of equity clearing.

Andrew B. Busch has been named by US Commodity Trading Futures Commission (CFTC) acting chairman, Christopher Giancarlo, as the Commission's first chief market intelligence officer.

The European Commission delivered the final blow to a proposed merger between Europe's biggest stock exchange operators, Deutsche Börse and the London Stock Exchange, on Wednesday, but some market observers wondered whether the parties themselves had gone cold on the deal.

Former CQS portfolio manager Greg Sadler will be joining HSBC as head of financial credit trading in Europe.

The European Commission on Wednesday struck down the all-but-dead proposed merger of the London Stock Exchange Group (LSEG) and Deutsche Börse.

The Basel Committee on Banking Supervision (BCBS) slammed global banks today after it determined that only one had achieved full compliance with a set of principles aimed at improving risk data reporting.

Rosenthal Collins, the US futures broker and clearing company, has promoted Robert Turner to be its new chief operating officer and Patrick Carey to be in control of a new function, strategic implementation.

The European Commission has signed off on a piece of legislation that, if unopposed by the European Parliament and Council, could extend clearing compliance deadlines for smaller over the counter derivatives traders.