Derivs - People and Markets

UBS’ overall revenue beat analyst expectations, but a drop in equity capital markets and derivatives income dragged the investment banking unit to a 15% drop in year-on-year revenue in the second quarter.

The London Stock Exchange and Deutsche Börse are gearing up for a protracted examination by European regulators and competition authorities after the German exchange this week narrowly achieved the required votes from its shareholders to approve the planned merger.

ISDA’s Determinations Committee has scheduled an auction to resolve credit default swaps referencing Puerto Rico, while in a separate auction dealers settled a low final price on Portugal Telecom International Finance contracts.

Back in July 2010, not long after the first Greek bailout, results of stress tests conducted by the Committee of European Banking Supervisors (the predecessor of the EBA) were released on the EU’s banks. They didn’t make for happy reading.

Deutsche Börse and CME Group have both reported double digit revenue growth in the second quarter, helped in part by a spike in derivatives trading volume around the UK’s vote to leave the European Union.

Intercontinental Exchange has appointed a founding member of the Bank of England’s Monetary Policy Committee as a director of ICE Benchmark Administration.

A strong second quarter performance in fixed income trading has bolstered BNP Paribas’ corporate and investment banking results and helped cushion falls in its equities business and domestic retail banking arm.

Credit Suisse, after two consecutive quarters of losing money, has surprised market participants with an earlier than expected return to profitability.

An auction to settle senior credit default swaps referencing the Commonwealth of Puerto Rico will take place on August 17, the International Swaps and Derivatives Association’s Determinations Committee has agreed, following the US territory’s failure to pay credit event.

The costs incurred to centrally clear derivatives trades could be greater than transacting them bilaterally, US government researchers have argued, in findings that would deal a blow to regulators’ attempts to curb systemic risk in the global market.

Deutsche Börse has narrowly achieved the required votes from its shareholders to approve its merger with the London Stock Exchange Group, meaning only the possible objections of regulators now stand in the deal's way.

IHS Markit has launched indices that track US dollar, sterling and euro investment grade infrastructure corporate bonds, as well as US dollar high yield infrastructure names.