Derivs - People and Markets

trueEX, the interest rate swap trading platform, has broadened its push in the asset class with a new facility for trading, processing and novation of non-cleared contracts.

GTX, the institutional foreign exchange trading arm of GAIN Capital, has named a chief executive of its swaps execution facility.

ICAP has named a head of post-trade product client development.

Intercontinental Exchange has added Goldman Sachs as the third clearing member of its ICE Clear Netherlands subsidiary.

Derivatives experts are rushing out a new toolkit of products to help market participants navigate a coming sea change in financial markets following last week’s US presidential election upset. Dan Alderson reports.

Nifty 50 futures trading on the Taiwan Futures Exchange will be able to be sold in the US, following a ruling by the Commodity Futures Trading Commission.

We noted last month that realised volatility in the European investment grade CDS market, as measured by the Markit VolX index, was at its lowest for two years. By the end of October, volatility had dipped to 18%, which was the lowest level since the heady days of June 2007. A number of future events were mooted that had the potential to trigger market uncertainty, including next month’s Italian referendum.

Bankers have lauded a decision by the European Securities and Markets Authority this week to propose a two year delay to rules requiring smaller financial counterparties to centrally clear derivatives trades.

A big rift in US volatility trading has opened in the week since Donald Trump’s shock presidential election win, with equity markets quickly calming after the result while the US Treasury yield curve sharply steepened.

The Dubai Gold and Commodities Exchange has signed up the Industrial and Commercial Bank of China as a clearing and settlement bank, which it hopes will ease its introduction of Shanghai gold futures.

The International Swaps and Derivatives Association has replaced the head of its implementation effort for margin on non-cleared derivatives, just months before the industry faces a major regulatory deadline.

Tullett Prebon has obtained approval from the UK’s Financial Conduct Authority for its proposed acquisition of rival interdealer broker ICAP’s global hybrid voice broking and information businesses.