Exchanges
BoE to authorise EU CCPs ‘at 00:01’ on Brexit day
Central bank hopes plan to preserve access for EU CCPs will be reciprocated
DRW calls for physical settlement of bitcoin futures
Prop shop’s head of market structure says underlying spot exchanges are not transparent enough
SGX sees new FX records
Both INR/USD and USD/CNH monthly volumes soar to new records after overall FX futures volumes grew 59% in 2017
New records for LCH volumes in 2017
Strong growth driven by roll-out of new products, regulatory change and onboarding of new customers globally
ForexClear prints new record, clearing more than $100bn in one day
And recently launched G10 NDF service clears over $700m in a month
CFTC approves CME and Cboe bitcoin futures
But warns investors it has limited statutory authority over the underlying cash markets and exchanges for bitcoin, which are largely unregulated
LCH SwapAgent processes first cross-currency basis swap
It is the first non-cleared trade to be transacted as LCH STM, SwapAgent’s settlement-to-market legal and operational framework
MarkitServ rolls out workflow automation for cross-currency swaps
Enhanced service launched in conjunction with CLS and LCH
Seven sign up for CME’s over-the-counter NDF-clearing launch
The exchange is set to launch the service in the first quarter of 2018
CME to launch bitcoin futures
Pending regulatory approval, the cryptocurrency will become available on the world’s largest derivatives exchange operator by the year-end
SGX sees 75% of listed CNH futures volume, Lam says
Singapore Exchange boasts 200% growth year-on-year in renminbi in August; hits two consecutive records for Indian rupee in September
CLS settled volumes rise 11% in September
Spot, forwards and swap volumes picked up pace compared with August and September last year
Earthport to provide cross-border payment services to SECB
Headquartered in Frankfurt, SECB Swiss Euro Clearing Bank is a major euro payments-clearing hub for Swiss banks
SGX hits records in rupee and renminbi futures
The exchange prints USD/CNH record on September 8 and sees INR/USD futures reach new highs on September 22
CME to launch spot FX basis spreads
The CME FX Link will create the first central limit order book between OTC spot FX and CME FX futures
London Stock Exchange Group boosts LCH stake
LCH’s activity has ballooned over the past 12 months, with its ForexClear platform clearing more than a trillion dollars’ worth of non-deliverable forward trades in August
LCH SwapAgent completes first trades
Citi and Deutsche Bank executed the first trades, a Swiss franc-denominated interest rate swap and euro-denominated inflation swap
Nippon Life gains third-party access to CLS
The life insurer is the first non-bank financial institution to settle FX trades with CLS in Japan
ForexClear exceeds $1 trillion of monthly cleared FX trades
Milestone reached ahead of the second tranche of uncleared margin rules taking hold in September
Clearing will grow, but co-exist with PB, panellists say
CCP fees need to come down, NDF clearing expected to grow, but structured products will remain the domain of prime brokers
CME moves to build liquidity in new FX futures contracts
The firm is switching on implied functionality to link spreads and outright markets
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