Derivs - FX

The US Commodity Futures Trading Commission has finally put forward its much anticipated proposed rules to amend regulation of swap execution facilities.

CME Group has ticked off all of the regulatory approvals needed to forge ahead with its purchase of NEX Group, after the UK Competition and Markets Authority cleared the transaction on Wednesday.

XTX Markets, the specialist liquidity provider, has settled on Paris as its European Union hub for after the UK leaves the bloc.

The Bank of England has begun a consultation period on the fees that it will charge foreign central counterparty clearing houses (CCPs) for recognition after the UK leaves the European Union.

Friction is building in the FX derivatives market over the implementation of the Markets in Financial Instruments Regulation (MiFIR), with market participants confounded by European regulators’ instructions on how FX swaps should be reported.

Tuesday’s intervention by the Bank of England into the debate on the future of euro clearing is another welcome move from regulators. The debate has been too long dominated by political noisemaking.

The International Swaps and Derivatives Association (ISDA) has released a white paper on smart derivatives contracts, setting out a framework for how these could be built and function in scenarios such as defaults.

Pan-European securities watchdog ESMA on Friday announced that it would renew its restrictive measures for contracts for difference (CFD) products for another three months.

Five trade bodies began lobbying efforts on initial margin phase-in in earnest this week, warning global regulators of severe consequences if incoming rules are not amended.

For its investment in technology, focus on risk management and hedging, the completeness of its franchise and the judicious use of its own balance sheet, JPMorgan is GlobalCapital’s Derivatives House of the Year. It also wins the awards for Equity Derivatives House of the Year and FX Derivatives House of the Year.

For a team structure that combines sector and technical expertise with local relationships enabling it to deliver innovative derivatives solutions for clients around the world, Société Générale wins GlobalCapital’s Corporate Solutions House of the Year award.

For its innovation in markets including FX options and non-deliverable interest rate swaps, stellar performance and growth and an approach that seems to put the customer first, LCH is GlobalCapital’s Derivatives Clearing House of the Year.