United States
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Monsanto has rejected Bayer’s all-cash bid of a $62bn enterprise value as “incomplete and financially inadequate”, but left the door open to an improved offer.
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Replenishing the default fund of a failed central counterparty (CCP) and addressing single point of entry at its holding company are some of the biggest challenges regulators face in developing a resolution framework for systemically important CCPs, according to a report by the Clearing House and the International Swaps and Derivatives Association. -
EBS BrokerTec, ICAP’s electronic foreign exchange and fixed income business, has added FX spot, forwards and swaps to its EBS Treasury platform as it completes the rebranding of the product from its previous name, MyTreasury.
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The Chicago Board Options Exchange has taken a strategic stake in parent Eris Exchange as the firms team up on a range of product solutions aimed at regulatory reforms such as Basel III, European swap clearing and trading mandates, as well as margin for un-cleared swaps.
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OpenDoor Trading has hired a former Bank of America Merrill Lynch sales head as president as it prepares to launch a trading platform aimed at improving liquidity in off-the-run US treasuries and treasury inflation protected securities (TIPS).
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Bayer could be preparing to issue one of the five biggest rights issues ever, and the largest by a non-bank company, as part of the financing for its $62bn bid for Monsanto, the US agricultural chemicals and bio-engineering business.
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The Options Clearing Corporation, a US clearing house, has found itself placed on negative ratings watch by Standard & Poor’s, over concerns that it could fail should two of its largest clearing members default.
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Credit Suisse has appointed a new head of US leveraged loans and high yield bond trading, a source has confirmed.
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Computer giant Dell timed its acquisition financing to perfection this week as its racked up $85bn in orders from a yield hungry investor base that flocked to the secured structure that delivered investment grade bonds.
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The futures-implied probability of a US rate hike in June surged this week after hints by Federal Reserve officials.
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Intercontinental Exchange is readying to offer a new form of interest rate futures contract aimed at supporting term financing deals such as repurchase agreements.
