Derivs - Credit

BNP Paribas has told between 80 and 90 London-based people in its global markets division that they may need to relocate to the EU in the event of a hard Brexit.

The Depository Trust & Clearing Corporation (DTCC) on Tuesday said it had moved to the testing phase of a new credit derivatives “warehouse” that processes credit derivatives trades with distributed ledger technology (DLT).

The US Commodity Futures Trading Commission has finally put forward its much anticipated proposed rules to amend regulation of swap execution facilities.

TP ICAP’s data and analytics division has entered into a partnership with Credit Benchmark, a data analytics firm focusing on credit.

CME Group has ticked off all of the regulatory approvals needed to forge ahead with its purchase of NEX Group, after the UK Competition and Markets Authority cleared the transaction on Wednesday.

The gross market value of over-the-counter (OTC) derivatives has resumed its precipitous decline after briefly gaining positive momentum between 2015 and 2016, according to figures from the Bank for International Settlements (BIS).

EBC president Mario Draghi, in a press conference confirming that market rate expectations were intact, stated that the risks to the eurozone’s economy are “broadly balanced”. His view may have merit, but there is little doubt that the situation is looking more precarious than a few weeks ago.

The Bank of England has begun a consultation period on the fees that it will charge foreign central counterparty clearing houses (CCPs) for recognition after the UK leaves the European Union.

The Basel Committee for Banking Supervision (BCBS) on Thursday launched a consultation to address a quirk of Basel capital rules reviled by many derivatives clearers.

Rostin Behnam, a commissioner at the US Commodity Futures Trading Commission (CFTC) flagged potential issues in the governance and risk management of clearing houses (CCPs) on Tuesday.

The International Swaps and Derivatives Association (ISDA) released an updated version of its Model Netting Act on Tuesday. The Act is a guide for legislators looking to properly institute close-out netting rules.

The International Swaps and Derivatives Association (ISDA) has moved on from its role as secretary of the special committees that rule on whether credit events that trigger credit default swap (CDS) payouts take place.