Derivs - Credit

Debate on the location of euro clearing flared up again this week as the Bank of England warned of “substantial risk of disruption” for the activity, while the European Commission gave its blessing to more powers for the European Central Bank over central counterparties (CCPs).

Financial counterparties in Switzerland had to start reporting derivatives trades to repositories on Monday, as required by the country's Financial Market Infrastructure Act.

Intercontinental Exchange (ICE), an operator of exchanges and clearing houses, on Monday announced clearing services for CDS referencing Saudi Arabia, as well as for a host of emerging market and Asia-Pacific corporate single names.

The European Securities and Markets Authority (Esma) has published the final draft of the regulatory technical standard (RTS) giving details of which OTC derivatives will need to move to a trading venue when the Regulation on Markets in Financial Instruments (MiFIR) is implemented in January.

The doyenne of derivatives policy in Europe, Kay Swinburne MEP, warned on Thursday that political urges in the European Union risked tainting the oversight of foreign clearing houses.

European Parliament members Jakob von Weizsäcker and Kay Swinburne published a draft report on planned central counterparty (CCP) recovery and resolution rules this week.

Equity derivatives experts do not expect equity volatility to pick up from its current low level any time soon. Some of the potential political hurdles have been overcome and some see little to trouble them until the Italian elections in the second quarter of next year.

Proposed changes to a form that the US Federal Reserve uses to determine their global systematically important banks’ (G-SIB) capital surcharges has sparked extreme concern among clearing bankers, writes Ross Lancaster.

Toys R Us has become the latest CDS name to default after it filed for Chapter 11 bankruptcy protection.

Matthew Kulkin has joined the US Commodity Futures Trading Commission (CFTC) as a director of the swap dealer and intermediary oversight division (DSIO).

GlobalCapital held its 2017 Global derivatives awards at the Royal Horseguards Hotel in London on Wednesday, September 20.

An International Swaps and Derivatives Association (ISDA) determinations committee this week 'cleverly' dismissed the controversial question of whether Noble Group defaulted on its debt in June, but the move has prompted questions about reform of the decision-making process.