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Daniel Petherick, ex-managing director and head of equity derivative flow sales for Europe, Middle East and Africa at Citigroup in London, has joined Société Générale as head of European flow derivatives sales, also based in London.

The Depository Trust and Clearing Corporation has partnered with TriOptima, enabling daily reconciliation of over-the-counter derivatives trades that are reported to DTCC’s European trade repository via triResolve, as mandated by the European Market Infrastructure Regulation.

Demand in the Canadian derivatives markets is increasing as investors are drawn to the country’s financial stability, creditworthy banking system, proximity to the US and strong regulatory infrastructure. There has accordingly been a substantial growth in futures markets tied to the country’s natural resources and commodities trade, driven by both domestic and international investors.

Regulators demand numerous know-your-customer checks to be performed and accurate client and counterparty data checks be made. Not only do firms need to make substantial changes to their internal processes to meet these requirements, they must ensure that the counterparty and client data they hold is accurate from the outset and then efficiently managed forevermore. Legal entity data management is far from a simple task, however, and with a swathe of risk management and investor transparency requirements due to come into force over the coming years, firms need to give this critical activity some serious attention. To read the full Learning Curve titled ‘The big data challenge: firms must act now’ written by Mark Davies, general manager and head of Avox, please go to www.globalcapital.com/derivatives/learning-curves.

CME Group has increased its offer for GFI Group to compete with a recent bid by BGC Partners. The exchange has now increased the consideration payable to GFI Group stockholders from $4.55 a share, to $5.25 a share, payable in a mix of CME Group Class A common stock and cash.

The US Commodity Futures Trading Commission has reopened the comment period for the much debated position limits following several years of deliberation, which is expected to result in new proposed rules or a new final rule, according to lawyers.

Regulatory co-ordination between different authorities in Canada has helped market participants implement the trade reporting rules for over-the-counter transactions that came into effect on October 31.

LCH.Clearnet has partnered with Baltic Exchange and Cleartrade Exchange to clear OTC commodity derivatives as block futures in dry bulk freight forward agreements (FFAs). This move has been driven by market demand as participants adapt their trading strategies in the face of regulatory hurdles.

Overall credit default swap notional that was reported to swap data repositories last week decreased by 40% from the previous week, according to data from the International Swaps and Derivatives Association. Overall interest rate derivatives trading that was reported was also down by 18% from the previous week. This follows a week of sizeable increases in trading volumes in both CDS and rates.

The Singapore Exchange logged record volume of derivatives transactions in November with daily average trading volumes up 45% year-on-year, following the launch of the Shanghai-Hong Kong Stock Connect last month. This was primarily driven by FTSE China A50 futures and SGX FX futures in the Indian rupee and renminbi.

Michael Davie, CEO of LCH.Clearnet Limited, has been appointed group chief operating officer in a newly created role. Martin Pluves, COO of the firm, will replace Davie as CEO.

Tullet Prebon has acquired PVM Oil Associates, adding substantial energy trading capacity to the firm’s product and services offerings. Tullett Prebon’s ability to trade oil-based over-the-counter derivatives contracts will be substantially improved, as will its ability to expand into futures and physical options broking.