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Regulators need to resist the temptation to alter a clearinghouse system that has worked well until now, said panelists discussing the challenges for the clearing world at the Swiss Futures and Options Association’s 31st Bürgenstock meeting in Interlaken, Switzerland.
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Deutscher Derivate Verband, the structured products association of Germany, will release additional disclosure templates for structured products in the next couple of months.
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A number of hedge funds were buying up one-week risk reversals on the U.S. dollar/yen late last week at a time when the market was being dominated by overnight and two-day put options on the yen against the dollar.
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The City of London, which accounts for 43% of the value of over-the-counter derivatives traded globally, is losing out on attracting financial services startups due to industry fears over the outcome of regulation aimed at derivatives and short selling.
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E.U. regulators and structured product players traded salvos over the need for more disclosure in the sector.
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The gross outstanding notional of over-the-counter interest rate derivatives jumped from USD449.202 trillion as of June 30 to USD465.163 trillion as of July 31.
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Trade repositories could be fined and have licenses revoked by European regulators. A European Commission draft bill seen by Derivatives Week would give the European Securities and Markets Association the power to request the Commission impose a fine or revoke a repository’s license if it, for example, seriously or repeatedly infringes regulation or no longer meets the conditions under which it was registered.
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Rory Hill, an ex-senior equity derivatives trader at Citadel in London, is set to join Citigroup as a managing director for relative value trading in equity derivatives based in London.
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Stephane Gaillard, head of commodities derivatives at Natixis in London, has left the firm and joined Nomura as a senior fx flow exotics trader in London.
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Cater Allen Private Bank, a subsidiary of Grupo Santander, has launched a structured product offering investors the potential to lock-in returns depending on the level of the FTSE 100.