UK
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Equity markets in the UK, US and eurozone sold off late Wednesday and on Thursday, leading to a mixed reaction from equity derivatives strategists. -
There are more than $512bn worth of bonds that will need to switch to an alternative reference rate if global regulators execute plans to ditch the Libor benchmark by the end of 2021, Linklaters said on Wednesday. GlobalCapital asked the law firm what needs to happen for a successful switchover.
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IHS Markit has created a new syndicated loans database that the information company says is the first of its kind to pull data from different agents to create a single view of parts of the $1tr market.
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The benchmarking arm of Intercontinental Exchange (ICE) opened an online portal on Wednesday that gives market participants information on alternative risk-free rates designed to replace the Ibors, as well as forward-looking term rates based on the sterling overnight index average (Sonia).
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Société Générale has made two appointments in its corporate banking teams; one in London, one in Paris.
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Global fintech M&A has surged by more than a quarter year-on-year by value, as consolidation grips the upper echelons of the market.
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The UK Debt Management Office won big demand for a reopeing of its longest outstanding bond on Tuesday, with a final order book that was over five times covered.
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UK electricity distributor Western Power Distribution returned to the corporate bond market on Tuesday for its regular annual fourth quarter outing, but this time had to accept a significant new issue premium as it raised £350m.
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The Bank of England is to postpone the launch of its second biennial exploratory scenario, it said on Tuesday, because both the supervisor, and the firms it monitors, will need to focus resources on dealing with the UK’s departure from the EU instead.
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The Bank of England, the International Swaps and Derivatives Association and a number of other industry trade bodies from across Europe have piled pressure on the European Union to deal with the risks of a disorderly Brexit for derivatives contracts.
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The London-Shanghai Stock Connect, slated to be launched by the end of the year, has the capital market’s attention, given its vast potential. But bankers and industry associations want more clarity on the operational aspects of the link.
