United States

TruePTS, a derivatives post-trade company set up by trueEX, is gearing up to face off against derivatives processing utility MarkitSERV as it launches its offering for buy-side firms.

Several issuers took new deals on the road in the second half of May and early June, but have struggled to find a window to execute their deals after the roadshows were completed. Recruitment firm Manpower met investors from June 6 to June 8 before selling its deal on Tuesday.

BNP Paribas’s Singapore chief executive officer is relocating to the US to take up a new position within the bank, according to sources.

Interest rate derivative volumes in swap execution facilities (SEFs) were up 22.3% in May compared to the same month last year, according to new data from the Futures Industry Association.

The iShares 0-5 Year High Yield Corporate Bond exchange traded fund (SYHG), which tracks short dated US high yield credit, has unwound almost 40% of its asset base in the last week and a half after investor Charles Schwab pulled its money to put into another high yield fund.

Yankee and Wall Street banks led a surge in FIG supply in dollars this week, grabbing the chance to exploit improving market conditions.

Corporate bond issuers enjoyed tighter spreads and strong order books amid an improvement in issuance conditions as they jumped back into the dollar market this week.

Cryptocurrency regulation won't be harmonised across jurisdictions, said two panellists at a Futures Industry Association conference in London this week.

Puxin and VCredit Holdings, both of which launched IPOs earlier this week, were covered on their first day of bookbuilding.

As banks struggle with tracking brokerage costs, they need to work out ways to properly manage cost transparency by normalising their trade data.

Top officials from global supervisory bodies furiously debated the implications of new European rules that change the oversight of foreign clearing houses, covering the role of central banks, national regulators and arrangements in crisis situations.

Larry Thompson, vice-chairman of the Depository Trust & Clearing Corp, on Tuesday suggested that populist rhetoric in the US might be overshadowing President Trump's strong choices of leaders in independent financial oversight agencies.