Derivs - People and Markets

Support for the London Stock Exchange and Deutsche Börse’s merger plans has solidified among the German exchange’s shareholders, with more than 75% having tendered their shares — crossing the original threshold set by management.

An auction to settle credit default swaps referencing Grupo Isolux Corsán Finance is expected to take place on August 24, the International Swaps and Derivatives Association’s (ISDA’s) EMEA Determinations Committee (DC) said on Wednesday, as it published an initial list of deliverables that only contained one bond.

The Securities and Exchange Commission of Pakistan (SECP) has approved legislation that will pave the way for the creation of clearing houses, in another boost for its capital markets.

The London Metals Exchange plans to offer a range of exchange traded and centrally cleared precious metal products, starting with gold and silver spot and futures contracts.

Tullett Prebon has teamed up with GMEX Group to launch a hybrid voice and electronic trading platform for foreign exchange options.

TriOptima and the Chicago Mercantile Exchange have completed the first triReduce multilateral compression cycle for cleared Mexican peso interest rate swaps, in what they said was also the first compression in a cleared Latin American currency.

Grupos Isolux Corsán Finance has triggered a bankruptcy credit event, the International Swaps and Derivatives Association’s EMEA Determinations Committee has ruled.

Tullett Prebon has bought a long term licence to use CME Group's hybrid voice/electronic trading technology, adding to the interdealer broker's other recent hybrid expansion initiatives.

It was a tale of two interventions this week, as Japan underwhelmed markets with its stimulus plan while the Bank of England delivered more than expected, in moves that also sent the yen and pound reeling in different directions.

US federal agencies have agreed a final rule exempting some commercial and financial derivatives counterparties from having to pay margin on trades not cleared through a clearing house.

The International Swaps and Derivatives Association and IHS Markit have updated their ISDA Amend protocol for margin on uncleared swaps and cross-jurisdictional notification between counterparties, in response to changing regulatory requirements.

The fate of credit default swaps referencing Grupo Isolux Corsán Finance hung in the balance on Thursday, with the International Swaps and Derivatives Association’s EMEA Determinations Committee weighing whether the company would become the third of last August’s five widest trading iTraxx Crossover constituents to trigger a credit event in 12 months.