Derivs - FX

It has been a long road for FX options but finally the clearing industry has arrived at a solution for the asset class to play catch up to other derivatives.

The post-crisis push of over-the-counter (OTC) derivatives into central clearing took a major step forward this week as LCH launched an offering for physically deliverable FX options. Ross Lancaster reports.

Singapore Exchange (SGX) on Tuesday announced that it would allow market participants to centrally clear bespoke FX futures with a new service. The exchange is aiming for an August 27 launch date.

TP ICAP replaced its chief executive John Phizackerley with its boss of global broking, Nicolas Breteau, on Tuesday, sending the shares spiralling downwards, as the interdealer broker revealed that rising costs were impacting the business.

Nomura has unveiled a big redundancy round in its EMEA global markets operation, with more than 50 front office staff at risk. The move comes as volumes in European fixed income disappoint once again, setting banks up for a rough set of second quarter numbers.

The Futures Industry Association’s European Principal Traders Association (FIA EPTA) has chosen a new chairman, promoting Mark Spanbroek to the position.

BNP Paribas said on Thursday that it had hired Paul Hollingsworth as UK economist.

The International Swaps and Derivatives Association has published new versions of its master agreement that apply to French and Irish law, setting up post-Brexit contract choices beyond English law.

GlobalCapital is pleased to announce the shortlist for its Global Derivatives Awards 2018.

UK financial services advocacy group TheCityUK on Wednesday called for the continuity of cross-border derivatives contracts to be guaranteed after the UK leaves the EU.

European member states and the EU Parliament will soon begin difficult talks to decide the length of an additional clearing exemption for pension funds.

Hong Kong Exchanges and Clearing (HKEX) is planning to formally re-launch a futures contract for Chinese treasury bonds (T-bond), after piloting the product last year, Charles Li, chief executive of the bourse, told the HKEX’s RMB Fixed Income and Currency Conference on Tuesday.