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Regulators want to see a tape for capturing post-trade information on over-the-counter derivatives, akin to what is used in the equity markets.
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European Union representatives will propose to G20 states in June to agree to ban naked credit default swaps trading on government-backed bonds, according to Nikolaos Chountis, a member of the European Parliament for Greece.
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Structured products boutique Luxembourg Financial Group and Swedbank recently launched a fund that uses short- and long-term options to capture growth from a range of underlyings while employing a mechanism to help mitigate losses in case the fund performs badly.
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Andrew Kleeger, managing director and head of credit sales in Hong Kong at Goldman Sachs, has reportedly left the firm and is expected to be taking a role at UBS.
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The ABX.HE and the Penultimate ABX indices have seen their first implied write-downs at the AAA level.
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E.U. politicians have urged the European Commission and European Council not to implement a financial transactions tax on derivatives without agreement in writing from other international financial markets saying they will do the same.
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Strategists at Société Générale are recommending a risk reversal trade to take advantage of their view that the Australian dollar could strengthen against the U.S. dollar in the next six months, but decline again over the long term.
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The Reserve Bank of India is planning to require that all credit default swaps have rated underlyings because it believes CDS spreads alone should not be relied upon by investors. But some traders are unsure the ratings will be heeded.
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Mizuho Securities USA is bolstering its fixed income division, and is seeking traders and sales personnel for a new high-yield team.
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Markit is preparing a tradable cash bond index that would track the most liquid investment grade corporate bonds in North America. The firm is working with multiple market makers on the project but a timeframe for launch could not be determined.