Derivs - FX
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Klaus Löber has been selected by the European Securities and Markets Authority as chair of its CCP supervisory committee. ESMA has also picked two other members; all three will be assessed by the European Parliament.
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The euro/dollar cross-currency basis swap has moved back in favour of euro issuance for the first time in three months, but with a wall of euro supply looming, the favourable level may not be enough to entice issuers away from the dollar market.
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Some of the world’s top-tier financial institutions want changes in how central counterparty clearing house (CCP) resolutions are executed.
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Turkey continued to teeter on the brink of a currency crisis this week, as the lira went on another rollercoaster ride and touched a record low.
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The Ukrainian Exchange is reviving its FX futures market, two years after authorities shut down its trading software system.
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Falls in the Turkish lira have reignited concerns about a currency crisis this week, with the Central Bank of the Republic of Turkey’s (CBRT) unorthodox exchange rate policy raising questions from investors about the robustness of the country’s respected banking sector. Mariam Meskin and Ross Lancaster report.
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Despite the success of many emerging market sovereigns in issuing bonds in international markets this year, Turkey, typically a leading issuer, has been notable by its absence. And with its foreign exchange reserves running lower, the risks of it not being able to come to market at all could be mounting.
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Central counterparty clearing houses (CCPs) could face increased attention and greater regulation after coming through the Covid-19 crisis in good shape, Fitch Ratings analysts said this week.
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Favourable moves in the cross-currency basis swap and rates markets have created opportunities for European investors to play in the US fixed income markets, said Amundi investors this week.
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GlobalCapital is pleased to announce the winners of this year’s Americas Derivatives Awards. This year’s pitching process was one like no other as the Covid-19 crisis swept throughout the world.
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Interdealer broker TP ICAP has hired Holden Sibley, formerly of Barclays, to lead FX Hub, its FX platform.
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The European Parliament reached a quicker than expected agreement on central counterparty clearing house recovery and resolution on Tuesday night, settling on a framework for second skin in the game requirements and also pushing open-access rules out for another year.