North America

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.

Nasdaq-listed China XD Plastics Co has launched a $180m two year financing into senior syndication via a single mandated lead arranger and bookrunner.

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.

US soft drinks and snacks group PepsiCo returned to the investment grade European bond market after a two year absence on Monday, clinching a very tight new issue premium.

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.

National Australia Bank printed its biggest ever dollar trade as investors shrugged off volatility and piled into new issues.

Canadian Imperial Bank of Commerce has tapped its three year sterling covered bond at a tighter spread than it was initially priced and in a considerably larger size than the minimum it had planned.

World Bank reopened the SSA market on Wednesday with a $5bn three year dollar deal that met with a rapturous reception from supply starved, but cautious, investors.

The strong run of US corporate bond issuance continued this week as borrowers enjoyed a firm technical backdrop, despite a collapse in US Treasury yields following the Brexit vote.

A lack of clarity around margin mandate regulations and compliance requirements has left banks unprepared to comply with approaching uncleared derivative margining deadlines, an industry survey has found.