Derivatives
FXCM and SuperDerivatives to launch options platform within days
Deal-X platform will launch with three liquidity providers on July 14, to be followed soon after by SurfacExchange's Surface Wave venture
European Parliament rejects Swinburne’s forex exemption
Crucial plenary vote on Emir on July 5 retains suggested amendments to recognise unique nature of FX derivatives, but stripped out explicit calls for an exemption
Hong Kong fixing sets benchmark for CNH spot
Hong Kong interbank participants have created the first US dollar/offshore renminbi price fixing, giving the city first-mover advantage in renminbi products such as derivatives
Spot USD/CNH fixing in HK poised to become derivatives benchmark
Hong Kong interbank participants have created the first US dollar to offshore renminbi price fixing giving the city first-mover advantage in becoming an offshore centre for renminbi products such as derivatives, say market participants
Deutsche merges OTC and listed derivatives clearing
Markets Clearing will combine the bank's existing clearing capabilities across FX, rates, credit, commodities and equities
Econ in favour of FX exemption
European committee favours US plans to exempt currency derivatives from clearing requirement
Two sides to every argument
May in perspective: participants hope the US Treasury will hold by its proposed exemption, despite several calls for further independent analysis of the FX market
Industry welcomes European Parliament recognition of FX
Amendments in Econ version of regulation stress the importance of settlement risk and existing market infrastructure
JSE to launch exotic can-do currency options
Move follows the successful launch of any-day expiry options in February
FX derivatives volume grew by 9% in H2 2010, says BIS
Total notional OTC volume across asset classes rose by 3%, having contracted by 4% in the first half of the year
Deutsche and Barclays sweep into CNH derivatives
Banks both now offer offshore renminbi trading in spot, forwards and swaps on their FX platforms after new launches over the past fortnight
Clearing discussion still in flux, says Esma chair
In his first public speech since becoming head of key regulatory body, Steven Maijoor gives no hint as to whether FX swaps and forwards might be exempted from mandatory clearing
FX dealers commit to greater standardisation in latest Fed letter
Voluntary OTC commitments touch on standardisation of FX products and the selection of a trade repository for the FX market by Q2 2012
EU Council disputes Esma’s power to determine clearing eligibility
Legal precedent suggests European Commission might have to determine which contracts should be cleared under new derivatives rules, rather than Esma as originally planned
SGX to clear FX forwards despite possible Treasury exemption
SGX to add new currencies and asset classes, including FX forwards, to OTC clearing service
Alpari launches FX options platform
Platform launched on March 9 to execute vanilla options trading strategies
European Parliament committee accelerates on derivatives reform
Committee members will discuss draft report today and have until March 15 to suggest amendments
European Parliament and Council on collision course over FX exemption
The top European Union institutions in Brussels have found themselves at odds over the crucial question of whether foreign exchange contracts should be subject to new rules for mandatory clearing and reporting of over-the-counter derivatives in the…
FX options clearing will be challenging, Afme panellists warn
Conference speakers discuss the investment needed to meet requirements for central clearing of FX options.
No market left untouched by regulatory clampdown
Few participants in the FX market seem to dispute the evolution of new regulations will be one of the biggest themes of 2011, but attention has tended to focus predominantly on Washington, DC and Brussels over the past year.
SuperDerivatives moves to improve options pricing transparency
Client push for more transparency in pricing methodology drives vendor to add new models and publish secret source code.
Eight pilot SurfaceExchange FX derivatives platform
SurfaceExchange is piloting its anonymous FX derivatives trading platform with eight traders and plans to go live at the end of the first quarter.
Israel clamps down on forex derivatives
The Bank of Israel (BoI) has joined the growing number of emerging market central banks to introduce tougher regulations on forex to battle the rise in speculative trading.
New CFTC documentation rules could force Isda master modifications
Proposed US rules might require changes to standardised global derivatives agreement