Derivatives
No CVA exemptions in US Basel III rules
Europe isolated as US regulators opt for broad counterparty risk charge
Thomson Reuters acquires Tradeweb FX options platform
Clients of the Tradeweb platform will migrate to FXall where they will get "more diverse access to liquidity", says chief executive Lee Olesky
‘No panic’ as Nikkei volatility spikes, dealers say
Traders say no sign of short volatility hedging after Nikkei 225 plunges
BIS: FX OTC markets hold steady, despite regulatory uncertainty
Semi-annual BIS survey reveals a rise in FX OTC derivatives transactions in the second half of last year
Standardised OTC swaps spice up futurisation fight
March saw the launch of a template for a new standardised interest rate swap product – an attempt to protect swap market liquidity from the threat of futurisation. The first product based on the template could be launched within weeks, but even some…
Standardised OTC swaps to launch within weeks
Isda-Sifma working group discussions continue but trueEX prepares to list OTC swaps with standard coupons and IMM dates
Icap: Sefs could lead to ‘sub-optimal hedging’
Moving NDFs to trade on Sefs could mean less hedging at longer end of the curve, says senior executive at Icap
CFTC should extend US persons fix, says O'Malia
Agency has not begun debating final definition of US person and "will need to provide relief" when temporary exemption expires, says CFTC commissioner
Uncleared margin rules could hold back new CSA adoption
Proposals on the margining of uncleared derivatives trades could dampen take-up of the standard CSA
Tarns gain favour as investors seek to exploit range-bound pairs
Target accrual redemption notes have regained some popularity after losing favour during the crisis, but investors are keeping a firmer eye on the risks, say dealers
Corporates await final Dodd-Frank details as deadline approaches
As Dodd-Frank deadlines loom for corporate derivatives users, treasury desks with sophisticated FX hedging programs should be steadily adapting compliance systems. But with regulatory energy focused on swap dealers, corporates are still waiting for…
Renminbi hedging and Africa: the final frontier
Bond deals in Brazil and Mexico and initiatives to make London a centre for RMB trading have signalled the global status of China’s currency. A rapid expansion of Chinese trade with Africa has seen the yuan move into the final frontier in global…
Banks claim €300 billion hole in margin study
Banks call for Basel Committee and Iosco to re-run study on impact of uncleared margin rules after errors emerge
Let swap platforms trade futures – Icap’s Spencer
Icap's chief executive says proposed derivatives rules are reinforcing exchange monopolies
First OTC clearing wave to catch 77 fund managers
List reveals 77 managers have funds that will be required to start clearing on March 11 - and dealers say up to a third are not ready to start
Digital Vega to add spot to Medusa options platform
FX options platform to add spot trading functionality this week in response to client demand, assisted by State Street-owned Currenex platform
SurfacExchange in acquisition talks
Multibank FX options platform confirms it has seen an 'uptick' in conversations over a potential acquisition, as rivals make tweaks to their ownership structures ahead of Sef registration race
360T licenses GFI Fenics for options pricing on Tex platform
The Fenics ePricer engine will support options trading on 360T's Tex platform as GFI Fenics broadens out its client base to multibank platforms
Collaboration needed on FX options clearing
Introducing central clearing into the foreign exchange market under new regulations has proven a thorny process, particularly for FX options. The priority for market participants should be to agree on appropriate processes for pricing, valuation and…
Questions remain on clearing and collateral
While confirmation of the US Treasury exemption came as a welcome development last month, further issues must be resolved in the coming months on the clearing of FX options and margin for uncleared trades
Europe not obliged to follow US on FX exemption, warns senior MEP
The European Parliament's position on FX is that it should be included in the scope of organised trading rules under Mifid, vows Markus Ferber MEP
Bloomberg to offer FX options after six-month pilot
The vendor's FXGO platform is the latest in a long line of electronic platforms to add FX options ahead of forthcoming regulatory requirements for electronic platform trading
FXall gains ground in options with three new banks
Thomson Reuters' pre-trade capabilities compliment the new options offering, says FXall chief executive Phil Weisberg
SurfacExchange to move into emerging market currencies
The start-up currency derivatives platform will add the Brazilian real and the Mexican peso by the start of 2013 as it responds to investor demand for emerging market currencies