Derivs - FX

Eurex Exchange has hired a chief technology officer from within its ranks to work on the company’s IT strategy and trading system development.

US swap market participants are beginning to emerge from reading the 723 pages of proposed rule changes for swap execution facilities and the trade execution requirement published by the Commodity Futures Trading Commission (CFTC). Meanwhile, they received notice this week of the man likely to replace the architect of the proposals.

EU lawmakers are ready to grant a temporary authorisation for the City’s clearing houses (CCPs) and central securities depositories (CSDs), according to two drafts documents obtained by GlobalCapital.

Trade repository provider Regis-TR has announced its intention to establish fixed operations in the UK, in order to comply with regulatory requirements in the wake of Brexit.

Société Générale is working to offer its clients direct clearing capabilities in the eurozone by the end of the year, as it launches an offering in Paris for listed and OTC derivatives.

The chairman of the Commodity Futures Trading Commission (CFTC) on Thursday seemed to side with the Bank of England in demanding more clarity from European authorities on how they plan to alleviate post-Brexit derivatives disruption.

The Council of the European Union has approved its final version of a controversial legislative proposal that seeks to overhaul the bloc’s oversight of clearing houses.

FX settlement firm CLS has gone live with a new service that will standardise and automate the calculation of payment netting on bilateral FX trades.

LCH, the London-based clearing house, has pumped up its compression offering, reducing members’ notional outstanding by $4.5bn through its FX clearing arm, ForexClear.

As UK prime minister Theresa May looks to sell her Brexit deal to a disgruntled parliament, banks have been suggesting different options structures to clients to net positive returns from the resulting turbulence.

The European Commission, on Tuesday, told UK clearing houses and securities depositories to pre-apply to the European Securities and Markets Authority (ESMA) for recognition, should hard Brexit take place.

MarkitSERV, the IHS Markit subsidiary, has created a new platform that will use a cloud to provide post-trade processing of OTC derivatives trades.