Derivs - FX

After more than three years of negotiations, European Union ambassadors are aiming to approve, at a technical level, a CCP resolution deal on Wednesday, opening the way for final negotiations with the European Parliament.

The Basel Committee on Banking Supervision (BCBS) has published a consultation on revisions to the credit valuation adjustment (CVA) risk framework.

The US Commodity Futures Trading Commission has fined Goldman Sachs $1m over failures related to record keeping for swap dealers.

The US Securities and Exchange Commission on Monday announced that it will overhaul regulation governing derivatives used by investment firms and business development companies.

The US Commodity Futures Trading Commission has ordered BGC Financial to pay a $3m civil monetary penalty over alleged supervision, reporting and record-keeping failings.

HSBC and MUFG have executed the first ever AUS/USD cross currency basis swap using SwapAgent, LCH’s non-cleared derivatives service.

The Financial Stability Board (FSB) has called on the International Swaps and Derivatives Association (ISDA) to include a pre-cessation trigger as standard language in definitions of new derivatives, warning of potentially disruptive market fragmentation as some interbank offered rates (Ibors) near a drop-off in relevance.

TP ICAP has appointed Joanna Nader, a former senior banker, as its group head of strategy.

Chatham Financial, the derivatives and debt management advisory firm, has acquired one of its main rivals, JCRA, in a move that is set to create a dominant global player in the market.

The US Commodity Futures Trading Commission on Friday ordered Wells Fargo to pay over $14m for its conduct involving a FX forward contract and compliance failures.

GFI announced that it will re-establish its Tokyo hub on Thursday, launching a new G10 forwards FX desk.

Open interest in CME Group’s BRL/USD futures rose in the run up to the Brazilian Central Bank’s 50bp benchmark interest rate cut and has remained elevated ever since.