Derivatives
In Brief, August 9, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
In Brief, August 2, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
LCH.Clearnet may offer 'lite' membership to sovereigns
Clearer's plans to create a special membership category for central banks and other sovereigns could undermine CCPs' risk-mutualisation model, rivals claim.
CLS targets buy side with Omgeo
NEW YORK - CLS and Omgeo have teamed up to improve post-trade reporting by the buy-side community with the addition of CLS FX instructions to Omgeo’s standard settlement instruction (SSI) database.
CIBC continues FSG build
TORONTO - CIBC has made four key hires in its financial institutions group (FSG) in London, Toronto and Hong Kong, as it builds up its global capabilities.
Dodd-Frank passes but leaves questions unanswered
Financial reform legislation passes in the US Senate, as focus turns to the complex issue of implementation
FX central clearing: A work in progress
No-one’s the wiser about the implications of the Dodd-Frank Wall Street Reform and Consumer Protection Act on forex options. And perhaps it won’t even matter by the time the legislation becomes fully scripted.
Dodd-Frank: forex swap clearing exemption at Treasury secretary’s discretion
Blanket FX exemption dropped from final bill; Treasury to determine issue
Trading Places, June 21, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Corporates should be forced onto central counterparties – BIS
Central counterparties are wrongly perceived as being more expensive than OTC transactions, says a leading economist.
Korea moves to restrict FX derivatives leverage
Bank of Korea and Ministry of Strategy and Finance cut back leverage caps and limit corporate hedging of currency risks to 100% from 125% of exposure
EC derivatives consultation stops short of detail on corporate exemptions
BRUSSELS - A consultation paper on derivatives markets infrastructure published on June 14 by the European Commission gives extensive detail on requirements for central counterparties (CCPs) that clear over-the-counter derivatives, but has stopped short…
SGX signs 14 banks for derivatives clearing
SINGAPORE - The Singapore Exchange (SGX-DC) has signed up 14 banks and three financial institutions for its Asian forex forwards and interest rates swaps clearing initiative, due for launch in the fourth quarter.
StanChart kick-starts Brazil push
SAO PAOLO - Standard Chartered (StanChart) has established a rates and FX trading desk in Sao Paolo, after receiving regulatory approval to launch trading operations in Brazil in April.
Misys and SmartStream in co-distribution deal
PARIS - Misys and SmartStream have entered a cross-distribution agreement to market each other's technology to clients.
Confusion over regulations continues
The new foreign exchange committee could not have come at a better time, with much confusion over the status of currency derivatives in Germany, following its government’s decision to backtrack on a proposed ban earlier last week.
Germany backtracks on currency derivatives ban
BONN – The German government has reversed on a proposed ban on currency derivatives and equity derivatives.
German short-sell ban snares long euro FX derivatives
Long euro derivatives positions caught up in proposed legislation, while doubts remain over the exemption of market-makers
Naked euro currency swaps face same fate as CDSs in Germany
Germany broadens shorting ban scope
Controversial swaps legislation survives as US Senate passes bill
WASHINGTON, DC - Foreign exchange swaps and forwards counterparties are being included in new rules blocking swaps dealers and major swap participants from federal government support.
BIS: FX derivatives notionals grew slowly in late 2009
The BIS reported a small increase in total outstanding FX derivatives in the second half of 2009.
CBRC plugs derivatives
BEIJING - Innovators of derivatives technology have found a backer in Yin Long, deputy director-general in the supervisory co-operation department of banking innovation at the China Banking Regulatory Commission (CBRC).
CIBC adds to corporate solutions group
TORONTO – CIBC has hired Douglas Jones as executive director in the Corporate Solutions Group (CSG) in Toronto.
Bilateral collateral agreements up in 2010
SAN FRANCISCO - Bilateral collateral agreements make up 83% of all collateral agreements in circulation in the over-the-counter derivatives market this year, versus 75% last year, according to a survey by the International Swaps and Derivatives…