Derivs - Interest Rate

Tradition, the interdealer broker, has made three hires to its data business, including two from outside the IDB world, as it seeks to push out the offering.

Chris Giancarlo was the 13th chairman of the Commodity Futures Trading Commission, the US’s top derivatives regulator, until last year. Before his five years at the helm of the CFTC he enjoyed a successful career on Wall Street, which included a 13-year stint as executive vice-president of GFI Group. Since leaving the commission he has focused on digital asset technology, in particular the development of a digital dollar. GlobalCapital caught up with Giancarlo to discuss regulation during the coronavirus crisis and the future of cryptocurrencies.

GlobalCapital is delighted to announce the nominees for its 2020 global derivatives awards.

The US Commodity Futures Trading Commission’s global markets advisory committee, a steering group made up of market participants, has recommended that the regulator provide a further six month grace period for compliance with initial margin requirements.

The Bank of International Settlements has indicated that regulators may need to review central counterparty clearing house margin policies after the coronavirus crisis.

Open access to central counterparty clearing houses may face further delays, it emerged this week, leaving derivatives market participants divided over whether it will actually become part of European regulation.

IHS Markit’s announcement this week that it had acquired regulatory technology firm Catena Technologies marked another move towards consolidation in the industry.

Open access, the much fought over and delayed section of the second Markets in Financial Instruments Directive (MiFID II), is facing further pushback, according to a European Council document seen by GlobalCapital.

The Covid-19 coronavirus is complicating the Libor transition and could even damage the risk profile of CME Group and LCH, Fitch Ratings has warned.

One of the co-heads of the London Group of Tradition, the interdealer broker that is one of the largest in the over-the-counter derivatives market, is leaving the firm.

The derivatives industry’s 2020 events calendar is even thinner, as the Futures Industry Association has cancelled its annual London event.

More hedge funds are looking into entering the market making industry, following in the footsteps of Citadel Securities.