Derivs - Regulation

In this round-up, RMB-denominated oil futures are to be open to foreign investors in China, the Brics-backed New Development Bank is to issue its first loan in RMB, and GF International has launched the first ETF based on the MSCI China A International Index in Asia.

Moscow may have only secured a Rmb150bn ($24bn) currency swap line with the People's Bank of China in October 2014, but local banks and exchanges have already built solid businesses around the RMB needs of commodities giants and other corporate and banking clients. GlobalRMB spoke to Igor Marich, managing director, money market business, at the Moscow Exchange (MOEX) about recent developments in its RMB product offering.

The Bank of England has launched a consultation which aims to come up with a rule to prevent counterparties to a firm in resolution from running away from derivatives contracts.

The latest move to liberalise China's markets has improved risk appetite and backed paying interest in CNY swaps. Early steepening in the 1s/5s slope has pushed payers down the curve from five years to the three year tenor, writes Deirdre Yeung of Total Derivatives.

The technical standards for Europe’s Markets in Financial Instruments Directive have been pushed back, in the hope of achieving better regulation when it finally hits the statute book. But the new deadline will be painful for regulated firms.

The International Swaps and Derivatives Association (ISDA) and Markit have partnered to launch a trade classification tool for EMIR, which will allow investors to determine clearing obligations.

Banks and derivatives market participants that outsource their IT requirements should select vendors who differentiate themselves from competition, play to their strengths, and who will look to the future, according to one market intelligence chief.

Seven banks operating in Singapore are now subject to a framework the Monetary Authority of Singapore has established to determine domestically systemic important banks (D-Sibs).

Time Warner Cable credit spreads could increase further as M&A speculation grows following a Department of Justice’s antitrust ruling against rival Comcast's merger plans for the company on April 24.

The European Securities and Markets Authority approved operational status for 10 central counterparties to operate in third countries as part of the European Market Infrastructure Regulation.

Société Générale is planning to expand its coverage of alternate investment funds with its Orchestra multi-asset post-trade service and prime brokerage, having landed one client this week.

At the International Swaps and Derivatives Association's AGM in Montreal on Thursday, the Commodities Futures Trading Commission appeared receptive to evolving discussions of post-trade name give-up on swap execution facilities in light of growing buyside demand for anonymity.