United States

UBS and three other banks are working together to apply blockchain technology to making payments and settling transactions in financial markets.

The World Bank’s debut IMF special drawing rights (SDR) bond — dubbed a Mulan bond — is an acknowledgement of China’s success in reforming the renminbi, George Richardson, the organisation’s director and global head of capital markets, told GlobalRMB.

The unpredictability of economic policies in the US and Europe, paired with increasing default rates, could hit investors in the US high yield market, said Markov Processes International on Tuesday.

Mary Ann Deignan, global co-head of equity capital markets at Bank of America Merrill Lynch, has resigned to join Lazard.

Demand for subordinated debt in dollars has been unrelenting this summer, and has shown few signs of fading. As Europe’s banks look ahead to a busy September in the euro market, there is more than enough motivation for issuers to give dollars one last hurrah, writes Tyler Davies.

The International Swaps and Derivatives Association and PricewaterhouseCoopers were among those wading in with suggestions this week as regulators sought consultation on how best to install a framework to resolve failing central counterparties (CCPs).

trueEX, a New York based interest rate swap trading platform, has begun providing execution of Brazilian real swaps cleared at CME Group.

A handful of small names tapped the US primary corporate dollar market this week as the summer holiday period finally slowed August’s frenetic pace of issuance.

The subdued US private placement (USPP) market could be set to for a rush of deals in September, enlivening what has been a quiet year, writes Robert Cooke.

Numerix, a provider of cross-asset analytics for derivatives valuations and risk management, has signed up Siam Commercial Bank as its first client in Thailand for a credit valuation adjustment (CVA) solution.

Commodities firm Trailstone has signed its first syndicated loan co-ordinated in Europe.

trueEX, the interest rate swap trading platform, has begun providing execution of Brazilian real swaps cleared at CME Group.