Derivs - Regulation

Court hearings on the controversial knock-in knock-out fx contracts that incensed local corporate users are about to resume in Korea and bankers are pinning their hopes on a fresh panel of judges.

The International Swaps and Derivatives Association has finalized the members on its Credit Derivatives Determinations Committees.

European industry groups and senior bank representatives last night discussed the creation of a secondary market price reporting system for credit default swaps, corporate bonds and structured credit assets.

Offshore providers to Taiwan’s retail structured products market are still pushing their wares to domestic banks, despite the possibility new regulation may impact their activities in the very near future.

Derivatives professionals are largely welcoming Timothy Geithner’s plans to establish a systemic risk regulator and rein in exotic trades, if only so the rules are fixed and participants can stoke liquidity again.

The International Swaps and Derivatives Association is set to announce next week those firms that can take their place on the coveted Determinations Committee for deciding CDS trigger events.

The American Civics Exchange has launched over-the-counter options allowing investors to offset political risk and/or take a view on hot-button political issues.

Emerging markets credit default swap players are considering a move to the new standardized CDS format, following in the footsteps of their North American counterparts.

Sellsiders in Singapore are objecting to a mandatory cooling off period for retail investors of structured products.

China’s State Owned Assets Supervision and Administration Commission (SASAC), the country’s regulator for all state-owned enterprises (SOEs), will now have to approve in advance any transactions deemed risky, placing all over-the-counter derivatives into that bracket.

Litigation-focused law firm Quinn Emanuel Urquhart Oliver & Hedges has hired Daniel Cunningham, a senior partner and co-head of the global U.S. practice at Allen & Overy in New York.

A recent proposal to reinstate the uptick rule is seen as addressing only part of the issue with short selling, since it does not do away with the problem of when the volume of shorts exceeds the number of shares outstanding.