Derivs - FX

The coming of bitcoin futures could open the floodgates for Wall Street money, rapidly multiplying the global financial system’s exposure to the original cryptocurrency. But the bitcoin community is not united about what the asset should be and, as a result, it remains uniquely volatile.

Singapore Exchange (SGX) on Monday announced the launch of new derivatives products based on the MSCI Emerging Markets and MSCI Emerging Markets Asia indices.

As the prospect of a ‘hard Brexit’ looms over the City of London, UK politicians are facing the humiliating prospect of losing financial market primacy to Paris. The derivatives market is one area where participants are actively looking across the Channel, worrying Nicky Morgan, chair of the UK parliament’s Treasury Select Committee.

A top US regulator at the Commodity Futures Trading Commission on Thursday slammed the “one-size-fits-all philosophy” of the organisation's prior leadership.

Mexican oil major Pemex has changed the way that it hedges some of its foreign debt liabilities, deploying options instead of cross-currency swaps, a strategy that incoming accounting standards could open up to more corporates.

Deutsche Börse marked the first run for its regulatory reporting hub this week, as the reporting obligations for the revised EMIR technical standards came into effect.

Euronext has finalised a collaboration agreement with LCH, which will continue to provide derivative and clearing services to the exchange for the next 10 years.

The Commodity Futures Trading Commission on Monday announced that Democrat commissioner Rostin Behnam will sponsor the Market Risk Advisory Committee (MRAC), a body that advises the CFTC on market structures and systemic risk.

London based clearing house LCH Group has revealed that John Horkan, the head of its North American operations, will become COO of the company.

Nordea announced on Wednesday that it would become a systematic internaliser for FX and interest rate derivatives and cash bonds under the Markets in Financial Instruments Directive (MiFID) II.

The US Federal Reserve has delayed implementing a highly unpopular record-keeping tweak that many clearing banks had feared would increase their institutions’ capital buffers by 50bp.

The FCA has imposed its first fine for failure to report derivatives trades under the European Markets Infrastructure Regulation (EMIR) — but endemic cultural issues in large banks suggest it won’t be the last.