Derivs - People and Markets

France's Financial Markets Authority (AMF) is weighing whether or not to extend a ban on short selling this week, as industry bodies warned the ban has harmed markets.

As the June West Texas Intermediate crude oil futures contract’s expiry nears, the US Commodity and Futures Trading Commission has warned trading venues, clearinghouses and futures commission merchants that negative commodities futures prices could return.

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

Fater Belbachir is joining Citi as head of equities, a year after taking on the same position at Barclays. The US bank is changing the leadership structure of its equities and securities services business (ESS).

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.

BNP Paribas blamed European authorities’ restrictions on 2019 dividend payments for losing it €184m in its equities business, when it released its first quarter results on Tuesday. However, in debt capital markets and fixed income, currencies and commodities (FICC) it was a more positive picture, as the bank took advantage of a surge in debt origination and electronic trading.

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.

Société Générale’s equities division posted a 99% year-on-year drop in revenues for the first quarter on Thursday, contributing to an overall loss in both the wholesale division and for the bank overall.

Brian Quintenz, one of the Republican commissioners on the US Commodity Futures Trading Commission, has announced that he will not seek another term at the regulator.

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.

Credit Suisse took a $294m hit from marking leveraged finance underwriting exposure to market in the first quarter, its results on Thursday showed, as March’s volatility and jump in credit spreads took their toll.