Derivs - People and Markets

Intercontinental Exchange, the US based exchange and clearing business, has hired a global head for its ICE Data Services Connectivity and Consolidated Feed businesses.

Singapore Exchange has completed its takeover of the Baltic Exchange in London.

Derivatives markets across asset classes are projecting increased confidence of a Hillary Clinton win in Tuesday's US presidential election, but also revealing concern that volatility could then evaporate from markets for the rest of the year.

Russia plans to roll out a futures contract for crude oil by the end of this month, fulfilling a goal that has alluded the country for over 10 years but which the government believes will be a major step for its economy.

Long-languished plans to centrally clear foreign exchange derivatives have been jump-started back to life, claimed dealers who are optimistic that a cleared FX options contract could be available to trade within the coming months and pave the way for further progress in the asset class.

A shift of momentum in the US presidential race has sent tremors through derivatives markets this week, with equity implied volatility ramping up, credit index spreads widening and the Mexican peso slumping against the dollar.

Four banks have teamed up with law firm Simmons & Simmons to introduce market standard documentation for use in listed and unlisted repackaging transactions, in a move that they hope will ease hedging counterparty concerns for investors and help drive activity in this part of the market.

Equity derivative implied volatility in the US has ramped up over the past week as opinion polls on the result of the election suggest a 'closer call'.

LCH has outlined plans to deepen its dominance of the interest rate derivatives market, by launching a centralised service for non-cleared trades.

The Dubai Gold and Commodities Exchange (DGCX) has announced plans to launch a renminbi futures contract, with Gaurang Desai, CEO of the exchange, telling GlobalRMB the contract has already received regulatory approval.

This week, the Chicago Board Options Exchange (CBOE) launched a volatility smile index the tracks the steepness of the implied volatility curve of S&P 500 index options.

The fast approaching March 1 roll out of variation margin rules for uncleared derivatives has prompted an overhaul of battle plans at major law firms, which are increasingly pairing up with technology companies, low-cost legal services firms and other financial services providers as competition mounts to secure big mandates from banks.