Derivs - FX

EU27 end-users of derivatives could face large post-Brexit cost increases that will ultimately be passed onto consumers, UK parliamentarians heard on Wednesday.

The European Securities and Markets Authority (ESMA) has warned of the regulatory challenges posed by a no-deal Brexit amid continued uncertainty surrounding London’s status as a post-Brexit clearing hub for euro derivatives.

Armenia is to increasingly tap the repo market for its funding needs following three landmark transactions between Armenian banking group Armswissbank and the European Bank for Reconstruction and Development (EBRD).

The European Parliament and European Union member states are holding talks on a set of EMIR amendments that would, in advance of Brexit, firm up European powers to relocate clearing houses (CCPs) of systemic importance for the euro.

The European Securities and Markets Authority (ESMA) will temporarily suspend the publication of MiFID II transparency calculations in the event of a no-deal Brexit.

European lawmakers have agreed on European Commission proposals to reform the European Market Infrastructure Regulation (EMIR), aiming to reduce costs for derivatives market participants and exempting small counterparties from clearing obligations.

The Commodity Futures Trading Commission (CFTC) has extended the deadline for comments on the proposed rule to amend the regulations on swap execution facilities (SEF) and the trade execution requirement.

Barclays has made two hires in its FX trading and distribution team. This included appointing another FX specialist who used to work for Deutsche Bank.

The International Swaps and Derivatives Association (ISDA) launched a full version of its online solution for initial margin (IM) documentation on Thursday in partnership with law firm Linklaters.

The European Securities and Markets Authority (ESMA) has indicated that smaller counterparties and other reporting entities should be afforded some wriggle room over the implementation of new clearing and trading obligations. While deadlines for technical compliance are looming, recent amendments to EU regulation should imminently remove uncertainty over the new requirements.

The International Swaps and Derivatives Association (ISDA) has teamed up with software firm AcadiaSoft to automate data transfer as it seeks to better help market participants in coping with the implementation of initial margin (IM) requirements for non-cleared derivatives.

The US Commodity Futures Trading Commission (CFTC) reopened for business on Monday after a long-running US government shutdown, welcoming back hundreds of employees to their desks.