Derivs - People and Markets

OpenDoor Trading has completed a second investment round as it stays on course for an October launch. GlobalCapital spoke to chief executive officer Susan Estes about the firm’s aims not only to help revive liquidity in the US Treasury market but also to become the first US bond trading platform both majority owned and controlled by women.

OpenDoor Trading has completed a second investment round as it stays on course for a fourth quarter launch. The firm aims not only to help revive liquidity in the US Treasury market but also to become the first US bond trading platform both majority owned and controlled by women.

Seven bonds will be deliverable when dealers hold an auction next Thursday to settle credit default swaps referencing Portugal Telecom International Finance, with ISDA's Determinations Committee including June 20-terminating PorTel contracts in those triggered by the bankruptcy filing of Brazilian parent firm Oi.

The European Securities and Markets Authority (ESMA) has proposed a two year extension on the deadline for smaller trading counterparties to comply with a derivatives clearing obligation under the European Market Infrastructure Regulation (EMIR), citing lack of progress on the initiative.

Regulators have failed to consider the data challenges of their plans to impose margin on uncleared swaps, threatening a “tidal wave of new documents”, said D2 Legal Technology, a consulting firm specialising in legal and regulatory data management.

The Chicago Board Options Exchange will start listing Monday-expiring ‘Weeklys’ options on the S&P 500 index from August, taking the number of SPX expiries it offers each week to three.

Data firms IHS and Markit completed their merger on Tuesday, after shareholders agreed terms for a deal worth $13bn in which bond, loan and derivative services are key areas of focus.

ISDA’s Determination Committee was in its third day of deliberation on Thursday over whether the Commonwealth of Puerto Rico has triggered a failure to pay credit event, following the island having suspended as much as $1bn of general obligation debt payments that it was scheduled to make on July 1.

Citigroup has appointed two bankers to head its strategic equity solutions (SES) business for EMEA, including one it has hired from Bank of America Merrill Lynch.

Seven bonds will be deliverable into an auction to settle credit default swaps referencing Portugal Telecom International Finance, the International Swaps and Derivatives Association’s (ISDA's) EMEA Determinations Committee has ruled.

Quantitative Brokers, a Manhattan based provider of agency algorithms for futures and fixed income markets, has added a new strategy that targets best execution around an instrument’s close or settlement price benchmark.

There is no reason why euro swaps trading would have to leave London where it is overwhelmingly concentrated, dealers believe, even if Brexit leads European authorities to insist that clearing of the contracts takes place within the Eurozone.