Derivatives
TriReduce hits $1 quadrillion in swaps compressions
Demand has been high as banks seek to lower exposures
CME looks to launch FX options clearing in Q4
Following regulatory approval, the exchange looks to start dealer-to-dealer clearing in Q4 and client clearing in 2018
Banks turn to synthetic derivatives to cut initial margin
Options-based instruments can halve initial margin for some non-cleared products, say dealers
Just six banks caught by phase two of IM regime
Four EU, one Japanese and one Australian bank start posting initial margin on non-cleared trades from September
Michael Davie returns to LCH to lead rates business
Davie takes over from Daniel Maguire, who became chief operating officer in April
World Bank bets on compression for emerging market currencies
New York-based start-up LMRKTS gets backing to support illiquid markets
Surprise renminbi strengthening prompts unwinds
“A lot of long [US$] positions were unsustainable and had to be re-evaluated,” says FX structuring head
New Change FX to supply mid-rates to LCH’s ForexClear
The mid-rate will be used for determining underlying spot rates at the point of expiry for FX options
FastMatch to hike rates from July
Following its $153m acquisition by Euronext, the platform has a clear path to expand into Europe and Asia
Nex launches new JPY benchmark and teams up with FFAJ
Nex Data and Nex Markets provide margin ratios for 170 currency pairs, following new regulatory requirements in Japan
Sucden Financial launches OTC options tool for FX
Broker partners SuperDerivatives to provide clients with pricing tool and independent data
CME Group shuts down CME Europe and CME Clearing Europe
The move follows customers' preference for the exchange's US infrastructure, the group said
Documentation fears slow CNY FX derivatives growth
Foreign fund managers need clarity before market can take off, say banks
Tradition and LMRKTS deliver initial margin optimisation
The two firms conducted a live run, resulting in the processing of 132 sides of trades within eight minutes, nine seconds
Regulators relent ahead of VM big bang
Firms with "significant exposures" must stick to March 1 deadline, however
CME to go live with triangulation and monthly FX futures
Triangulation will link futures, and both volatility- and premium-quoted options markets on February 27
Credit Agricole conducts FX forwards with Orchestrade
The bank is migrating all front-to-middle processing of vanilla and structured products to the platform
CLS and TriOptima compress $1 trillion in forwards and swaps
The combined effort to reduce the size of outstanding portfolios crosses the $1 trillion mark in just over one year
Banks gain no relief from CFTC's variation margin delay
No-action letter will benefit only a dozen or so swaps brokerages and energy firms
Choussy exits and Davidson steps in at JP Morgan
Andres Choussy decides to pursue other paths
FX swap margin treatment uncertain ahead of VM deadline
With one month to go, market participants are still unsure how to treat foreign exchange derivatives
Digital Vega launches execution and workflow solution
FX options specialist promises to bring significant efficiencies for execution desks through Intelligence Execution engine
Eurex tees up OTC forex clearing with CLS
Net settlement at CLS could slash liquidity risks for CCPs
FIA calls on Trump for financial regulation review
Lukken says it's time to know whether the rules implemented after Dodd-Frank are fulfilling their intended purpose