Derivs - Regulation

A group of associations including the International Swaps and Derivatives Association and the American Bankers Association have written to the Basel Committee on Banking Supervision, warning that its guidelines for controlling exposures might stifle liquidity in swaps and futures markets.

Tradeweb Markets has applied to the U.S. Commodity Futures Trading Commission to become a swap execution facility.

The Bank for International Settlements has opened a consultation on proposals to change the capital treatment of bank exposure to central counterparties.

NYSE Liffe, the derivatives division of NYSE Euronext, has moved clearing on its London-based derivatives market to ICE Clear Europe.

The Monetary Authority of Singapore has proposed requiring reporting of derivative positions over SGD8 billion (USD6.3 billion) for non-financial specified persons.

Foreign structured product dealers operating in South Korea have been lobbying the authorities to reinstate the local equity warrants market.

European politicians and European Council negotiators have agreed on extending the scope of market abuse regulation to over-the-counter trades such as commodity derivatives, as well as instruments traded on multilateral trading facilities and organized trading facilities.

More depth is required in the equity derivatives market before a volatility index in Singapore can be launched, according to Muthukrishnan Ramaswami, president of the Singapore Exchange.

Milbank, Tweed, Hadley & McCloy has hired John Williams, the ex-head of Allen & Overy’s U.S. derivatives practice in New York, as a financial institutions partner in a new role.

A lack of harmonization among U.S. and European regulators in their approach to over-the-counter clearing could spur Asian regulators to develop regional clearing models that would negatively impact traded products that are systematically important globally, according to Paul Swann, president and managing director at ICE Clear Europe.

The London Stock Exchange will start allocating pre-legal entity identifiers to firms from next month, following confirmation from the Financial Conduct Authority on Wednesday that the LSE is to be the only U.K.-based pre-local operating unit.

Market participants have called for the U.S. Commodity Futures Trading Commission to reconsider its July 12 deadline for foreign firms to comply with Dodd-Frank on cross-border swap transactions.