Derivs - FX

Proposed changes to a form that the US Federal Reserve uses to determine their global systematically important banks’ (G-SIB) capital surcharges has sparked extreme concern among clearing bankers, writes Ross Lancaster.

CME Group has announced the launch of a new product suite, CME FX link, that enables positions in the OTC FX market to be switched, by a single trade, into an FX future on the CME exchange.

Matthew Kulkin has joined the US Commodity Futures Trading Commission (CFTC) as a director of the swap dealer and intermediary oversight division (DSIO).

GlobalCapital held its 2017 Global derivatives awards at the Royal Horseguards Hotel in London on Wednesday, September 20.

BNP Paribas has become the seventeenth clearing member of OTC Clearing Hong Kong, the clearing subsidiary of Hong Kong Exchanges (HKEX).

Distributed ledger technology “is on the verge of creating a sea change in contract design, reporting and settlement”, Brian Quintenz, a member of the Commodity Futures Trading Commission, said this week, as he was named sponsor of its Technology Advisory Committee (TAC).

The International Swaps and Derivatives Association (ISDA) released new recommendations on how to manage the recovery and resolution of central counterparties (CCPs) on Monday. The organisation also encouraged regulators to not distract themselves with 'politically driven topics', citing the debate on whether certain clearing houses should be relocated to European Union member states after Brexit.

Commodity Futures Trading Commission chairman Christopher Giancarlo's warning to Europe against taking “unilateral” action in changing rules tied to G-20 commitments made in 2009 is right. While there are concerns about the future regulatory relationship between the United Kingdom and the European Union, derivatives clearing is a global issue.

Eurex Exchange has announced that it will start trading 12 currency pairs as FX rolling spot futures from October 6.

The Depository Trust and Clearing Corporation (DTCC) plans to launch a pilot of service to reduce derivative traders' market risk capital requirements.

Commodity Futures and Trading Commission (CFTC) chairman Christopher Giancarlo on Tuesday warned Europe against "unilateral change" of regulatory arrangements on the supervision of foreign central counterparties (CCPs), railing against "piecemeal and contradictory rulemaking".

The Electronic Debt Market Association (EDMA) has penned an open letter to European Securities and Markets Authority chairman Steven Maijoor raising concern that left as they are, MiFID II regulatory technical standards will push trading out of the European Union.