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Overall credit default swap notional that was reported to swap data repositories last week increased by 44% from the previous week, according to data from the International Swaps and Derivatives Association.

Harmonisation and crossborder issues are key concerns for the International Swaps and Derivatives Association as markets enter 2015. As Scott O’Malia, CEO of ISDA and former commissioner at the Commodity Futures Trading Commission, tells Beth Shah, regulators need to ensure that crossborder oversight is based on risk and not location.

A report from the Commodities Futures Trading Commission on central clearing for non-deliverable forwards warned of possible problems if a mandate is applied incorrectly, urging coordination and standardisation of practices, according to lawyers

CLS Group will expand its third-party settlement services in Korea following a recent announcement from the Bank of Korea that the central bank is expanding the range of FX transactions eligible for CLS payment-versus-payment settlement to include those of non-bank of financial institutions.

Overall credit default swap notional that was reported to swap data repositories last week increased by 49% from the previous week, according to data from the International Swaps and Derivatives Association, continuing a multi-week trend of increasing notional.

BGC Partners has increased its all-cash tender offer to acquire GFI Group to $5.45 per share, representing a $.20 premium per share compared to CME Group's offer.

The Financial Conduct Authority is focusing its risk-based oversight efforts in four critical areas of the European Market Infrastructure Regulation for 2015 – trade reporting quality, clearing services provision continuity from clearing members, market readiness for the clearing obligation, and the bilateral requirements for non-cleared trades. This comes as February marks the first year anniversary of trade reporting under the regulation.

Banks operating with large swaps trading operations will no longer be required to relocate their trading to a separate legal entity that is not federally insured following the rollback of Section 716 of the Dodd-Frank Act. As a result, banks will avoid incurring significant expenses, while saving time and personnel, according to lawyers.

Société Générale’s Newedge prime services business has added LCH.Clearnet’s ForexClear as a new central counterparty clearing houses to its client over-the-counter clearing offering, allowing it clients to clear non-deliverable forwards.

Despite a last minute upswing, 2014 is poised to conclude as one of the least volatile years in recent memory.

The Commodity Futures Trading Commission has permanently approved LCH.Clearnet as a derivatives clearing organisation under the Commodities Exchange Act, after reviewing and amending the clearing houses’s original authorisation.

TriOptima has completed the first cross currency swap compression cycle for US dollar/Turkish lira, eliminating $213 billion notional.