United States

CLS Group, the foreign exchange settlement firm, has teamed up with financial information services provider Markit to launch an FX settlement service for cross currency swaps.

US regulator the Commodity Futures Trading Commission has proposed rules to increase oversight and risk controls for high speed electronic trading – and particularly the use of algorithms – in a bid to limit disruptions in the futures market.

MasterCard, the US credit card payments company, raised €1.65bn on Monday with its first euro bonds - and only its third bond issue ever.

The Depository Trust & Clearing Corporation has launched Data as a Service (DaaS), a solution that the company claims will transform the way data is accessed and presented from its clearing, settlement, servicing and trade reporting platforms.

The Chicago Board Options Exchange has created five options-based strategy performance benchmark indices that aim to help investors improve risk management and returns.

The leveraged finance market suffered an unpleasant shock this week, when $5.6bn of loans and bonds for the Carlyle Group’s acquisition of Veritas Software had to be pulled. Bankers were left blaming market sentiment, an aggressive structure — and each other, write Max Bower and Victor Jimenez.

The dollar market showed its appetite for diversity this week as Société Générale printed the first 30 year tier two bullet by a French bank and ING printed its debut green bond.

The US dollar bond market is braced for a deluge of issuance as borrowers look to wrap up deals ahead of an anticipated Fed funds rate rise in December.

Mondelez International, the US snacks group that owns Cadbury, satisfied its taste for long dated sterling debt on Tuesday, reaching far out along the curve to issue a £400m 20 year bond.

Shares in Solvay, the Belgian chemical company, closed at €103.65 on Thursday, up 3.1% since Monday night, after shareholders voted to approve the €1.5bn rights issue to finance its takeover of Cytec Industries, the US maker of advanced materials.

Bankers and investors on Wednesday said the failure of Veritas Technologies' $2.5bn bond deal — which was pulled along with an accompanying $3.3bn loan package on Tuesday — showed evidence of familiar weaknesses and errors in the European high yield market.

Citigroup is looking to buy back up to £485m equivalent of senior and subordinated debt across four senior and subordinated securities in sterling and euros.