Derivs - FX

Unilever’s attempt to raise prices on goods it sells to UK supermarkets would not have covered all of its costs from the recent depreciation of sterling, a Unilever executive has told GlobalCapital.

Mexican peso futures surged on Monday following the second US presidential debate, rising to their highest level in almost a month as Republican candidate Donald Trump failed to knock a dent in Hillary Clinton’s polls lead.

Forwards and Futures trading will form a big part of a fund that Franklin Templeton Investment has launched, which focuses on long and short term exposure to global currencies in both developed and developing markets.

Post-trade reporting of non-equity trades under MiFID II will be too onerous and expensive for single services, known as consolidated tape providers (CTPs), the European Securities and Markets Authority has said, suggesting instead that specialisations for a number of different instruments — including derivatives — be allowed.

The European Commission could ignore the advice of the European Supervisory Authorities, and carry on carving out covered bond swaps from onerous collateral posting rules.

There has never been a better time to be an FX banker in Asia as the region captures a bigger share of global activity driven by the rise of the renminbi and increased capital flows to and from the continent. Technology is also playing a bigger role but the best franchises from Asiamoney’s FX Poll 2016 combine that with top notch advisory, and geographical and product clout. Lorraine Cushnie reports.

The European Securities and Markets Authority has proposed making it mandatory to trade the iTraxx Europe and Crossover credit default swap indices on a regulated market or other recognised trading facility.

On Tuesday, September 20, GlobalCapital held its annual Global Derivatives Dinner at Banking Hall in London and revealed the winners of its Global Derivatives Awards for 2016.

The US Commodity Futures Trading Commission (CFTC) has penalised Russia’s VTB Bank and its London-based VTB Capital investment banking subsidiary over what the Commission called "fictitious" and "non-competitive" block trades of Russian ruble/US dollar futures contracts.

IHS Markit has hired a senior official from ICAP to help grow its foreign exchange business.

The Financial Stability Board has singled out removing barriers to over-the-counter derivatives reporting as a priority for G20 leaders ahead of their summit in Hangzhou this weekend.

Symbiont, a startup technology firm specialising in smart contracts and distributed ledgers for financial markets, has named a former Morgan Stanley senior banker as president and chairman of its board of directors.