Derivs - FX

BNP Paribas has appointed a senior banker from its ranks to head its FX prime brokerage business.

The World Federation of Exchanges (WFE) on Friday said that the leverage ratio should recognise the exposure-reducing nature of initial margin, becoming the latest body to call for change on the issue.

The chairman of the US Commodity Futures Trading Commission (CFTC), Christopher Giancarlo, has apologised for the past imposition of US swaps rules on foreign territories, calling it an “over-expansive assertion of jurisdiction”.

The US Senate Committee on Agriculture, Nutrition and Forestry has confirmed the nominations of Dawn DeBerry Stump and Dan Michael Berkovitz to serve as commissioners at the Commodity Futures Trading Commission (CFTC).

The US Commodity Futures Trading Commission (CFTC) expects to publish new rule proposals for swap execution facilities (SEF) this autumn — reforms that were expected in the summer.

The Futures Industry Association (FIA) has called for greater transparency in efforts by US regulators to determine the method for calculating the notional threshold at which dealers have to be registered as swap dealers.

Emerging market sovereigns are regarded as stalwarts of the credit default swaps (CDS) market. Their liquidity is dependable, and participants can usually trade in large size with relatively low transaction costs and little price impact.

CME Group has tweaked the expiry date of its listed FX options, in an effort to align the product more closely with its over the counter equivalents.

Bank of America Merrill Lynch has made three senior moves in its European client clearing operations for futures, options and OTC products.

Barclays has hired a former Deutsche Bank senior FX boss as its new global head of G10 foreign exchange trading and distribution.

Post-trade infrastructure company Depository Trust and Clearing Corporation (DTCC) on Wednesday announced that it would open a new office in Dublin in an effort to sidestep uncertainties stemming from Brexit.

Chicago Mercantile Exchange Group on Sunday revealed that its second quarter average daily volume of derivatives products outside of the US was up 13% compared with the same period last year.