United States

New guidance from the US Internal Revenue Service has left many tax advisers baffled about how to treat over-the-counter options on baskets of securities dictated by models.

The US Federal Reserve has revised its rules on calculating how much extra capital big banks need to hold, so that banks which use more short term funding need bigger capital buffers.

Marking the five year anniversary of the Dodd-Frank Act, the International Swaps and Derivatives Association has put forward a wish list of “targeted amendments” for derivatives regulatory regimes.

A strong compression in implied volatility globally across most asset classes has brought euro/dollar volatility to near dead calm, despite unanswered questions about what the results of Greece’s bail-out discussions will be.

Citigroup’s fixed income division and currencies business barely recovered from a rough start in spread products last quarter, executives at the bank said during an earnings call on Thursday.

After the recent spike on Grexit fears and a crash for Chinese equities, implied volatility levels for US stocks have fallen back to earth with stunning speed, say traders.

Though Bank of America remains by far the most fined bank in history, in the second quarter results for the US banks, it was Goldman that felt the heat, sucking up a $1.45bn provision for mortgage litigation and regulatory matters.

US and Yankee banks took home more than $15bn this week as they raced to wrap up funding plans amid improving market conditions.

Chinese wealth management service provider Jupai Holdings priced its $53m IPO on the New York Stock Exchange at the bottom end of guidance on July 16, as its selling shareholders reined in the number of secondary shares on offer.

New regulations restraining the risk taking ability of dealer banks contributed to last October’s sudden and mysterious selloff in US Treasury futures and options — dubbed the “Flash Crash”.

Oil market volatility was driven higher this week as traders placed bearish bets amid the prospect of more Iranian supply following its sanctions deal combined with weak fundamental data.

US speciality chemical products holding company Platform will buy UK firm Alent for £1.35bn using a $1.9bn bridge loan from Credit Suisse.