United States

The Depository Trust & Clearing Corporation (DTCC) on Wednesday called for "esoteric" exchange traded funds (ETFs) to be “closely monitored” and for a further expansion of clearing of derivatives and cash markets.

Viomi Technology, the internet-of-things affiliate of Chinese smartphone maker Xiaomi, opened books on Tuesday for its $125.4m Nasdaq flotation.

More finance and derivatives industry groups this week came out against the leverage ratio and its impact on client clearing, backing the findings of an August report by global watchdogs. In a joint paper, trade bodies including the FIA also expressed concern over Brexit and its potential impact on client clearing.

Exchange group Chicago Board Options Exchange Global Markets on Monday launched high yield corporate bond index futures, in collaboration with data firm IHS Markit and Blackrock.

August was generally a healthy month for many global derivatives exchanges, though performance was not quite consistent across the industry.

Nio’s IPO on the New York Stock Exchange is set to escape the rout in emerging market stocks mostly unscathed, with its $1.3bn float covered ahead of pricing on Tuesday.

The World Federation of Exchanges (WFE) on Friday said that the leverage ratio should recognise the exposure-reducing nature of initial margin, becoming the latest body to call for change on the issue.

Banks that deal in Yankees, including Nordea, HSBC and BPCE, raised $16bn in new funding as the market reopened with a bang after the Labor Day holiday.

Cigna Healthcare ended weeks of speculation on Thursday when it hit the dollar market with a $20bn trade to finance its acquisition of Express Scripts.

Daimler raised £500m when it reopened the sterling corporate bond market two weeks ago following the summer break — and nothing more was seen in the currency until this week, when two deals raised a combined £1.1bn.

Andrew Bailey, CEO of the UK Financial Conduct Authority (FCA), on Thursday backed calls for deference espoused by US Commodity Futures Trading Commission (CFTC) chair Christopher Giancarlo, in a speech at the Eurofi Financial forum in Vienna.

US telecoms giant AT&T has historically used the sterling corporate bond market for longer dated issuance. However, on Thursday, it sold an eight year deal in the currency – its shortest tenor in sterling since 2009.