Derivs - Credit

The Chairman of the US Commodity and Futures Trading Commission Christopher Giancarlo has penned a lengthy letter to the Vatican, which heavily criticised derivatives earlier this year.

The news wires are full of headlines about Trump, trade wars and Brexit. A mercantilist US and a UK government clinging on by its fingertips are not conducive to positive market sentiment. Yet spreads appear unaffected by the political chaos, tightening rather than widening.

Post-trade infrastructure company Depository Trust and Clearing Corporation (DTCC) on Wednesday announced that it would open a new office in Dublin in an effort to sidestep uncertainties stemming from Brexit.

MUFG announced this week that it has appointed a new international head of credit sales and trading.

It is common for a firm to have an association with an adjective. The description is often derogatory, so acquisitive companies are often said to be rapacious. For Glencore, the commonly used adjective is secretive.

The Futures Industry Association’s European Principal Traders Association (FIA EPTA) has chosen a new chairman, promoting Mark Spanbroek to the position.

JP Morgan has started credit default swap clearing with London-based clearing house LCH, opening a line with a Nordic pension fund.

The International Swaps and Derivatives Association has published new versions of its master agreement that apply to French and Irish law, setting up post-Brexit contract choices beyond English law.

Nomura has placed at least 50 employees in EMEA global markets at risk, GlobalCapital understands.

GlobalCapital is pleased to announce the shortlist for its Global Derivatives Awards 2018.

Credit events often make headlines in the CDS market, for good or ill. But the ISDA Determinations Committee also makes other decisions, most often on succession events.

Barclays has hired from Bank of America Merrill Lynch and also promoted two others to lead the digitisation of its markets business.