Derivs - Clearing and Exchanges

Swaps regulation needs an overhaul in the US to repair the country’s competitiveness as a marketplace, according to Christopher Giancarlo, Commissioner at the Commodity Futures Trading Commission.

The Singapore Exchange will add new FX futures contracts on the Taiwanese dollar, offshore and onshore renminbi crosses aiming to encourage trading on electronic trading platforms and exchanges in line with global G20 reforms for the over-the-counter derivatives markets.

Overall interest rate derivatives trading that was reported to swap data repositories last week increased by 14% from the previous week, according to data from the International Swaps and Derivatives Association.

Luke Moranda, ex-managing director for clearing technology and global payments technology, Treasury services technology at JPMorgan Chase, has joined the Options Clearing Corporation as senior vice president and chief information officer.

The European Securities and Markets Authority has entered into a memorandum of understanding with the Monetary Authority of Singapore to extend formal recognition of covered central counterparties based in Singapore under the European Market Infrastructure Regulation.

The Singapore Exchange has opened a new office in Hong Kong in a bid to further bolster its growth in Greater China. This comes following the firm’s expansion of operations into Hong Kong last summer.

The Moscow Exchange has is now trading futures contracts on the US dollar against the Canadian dollar and the US dollar versus the Turkish lira.

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LCH.Clearnet’s global interest rate swap clearing platform, SwapClear, is launching a portfolio margining service that will enable its members and their clients to maximise their margin offsets between over-the-counter and listed interest rate derivatives. As a result of this, users will be able to more efficiently manage their collateral obligations.

The latest proposals from the Commodity Futures Trading Commission and a coalition of five US prudential regulators could make trading uncleared swaps in the US costly and ineffective, driving business away from the country.

LedgerX, a bitcoin derivatives clearing house and exchange, has entered into a new partnership in a bid to expand the accuracy of its options pricing while increasing liquidity for bitcoin derivatives.

Overall interest rate derivatives trading that was reported to swap data repositories last week increased by 14% from the previous week, according to data from the International Swaps and Derivatives Association.