United States

Market participants and their lawyers were still poring over the US Department of Labor’s mammoth ream of fiduciary rules on Wednesday evening following its publication that day, but one derivatives-related area on which officials appear to have taken advice is their previous plan to limit the ability of investors to hold listed options in their retirement accounts.

China Renaissance has named Andrew MacInnes as CEO of its US arm, as the boutique investment bank steps up its overseas ambitions and grows its equity distribution capabilities stateside.

Global Medical Real Estate Investment Trust, owned by Hong Kong-listed ZH International Holdings, is aiming to list on the New York Stock Exchange in a deal that could net $100m.

trueEX, the interest rate swap trading platform, has started supported market activity during London business hours as it looks to build its client base in Europe.

Ally Financial has signed an agreement to buy options broker-dealer TradeKing Group for $275m, in a deal that brings $4.5bn of assets and technology.

Chinese metals exchange operator Yintech Investment Holdings is looking to list in the US, having filed a draft prospectus with the Securities and Exchange Commission on Monday.

Listed futures and options activity growth in March was strongest in equity index and volatility-linked products.

The remarkable conditions in Europe’s corporate bond market since the European Central Bank trained its quantitative easing firehose on the market were clear again today when Federal Express, the US deliveries group, raised €3bn to finance its purchase of Dutch peer TNT Express.

Standard Chartered has appointed a new head of FIG capital markets for Europe and the Americas, according to an internal announcement seen by GlobalCapital.

Car parts distributor LKQ is set to become the first US company this year to issue a high yield bond in euros — and more US names may be on their way, bankers say.

The US Securities and Exchange Commission has a chance to examine its conscience over plans to curb derivatives use. It should do so after the industry condemned a sweeping approach that revealed little comprehension of the many sensible interactions that exist between derivatives and everyday capital markets.

UBS has joined a growing list of European banks ramping up their senior holding company level issuance in 2016, printing a large three tranche deal in dollars as demand for the product surges.