News
Professional investors behind ‘witching day’ options spike
Study says retail investors are the losers from anomaly that costs more than $3.8 billion
NatWest Securities US Treasury trading head departs
Jason Sable joined the UK bank in January 2022 from BNP Paribas
Dealers braced for Taiwan swaps clearing mandate
Expected FSC directive on TWD interest rate swaps could spur growth in FX clearing, say bank execs
Europe’s new AI Act threatens supervisory ‘chaos’ for banks
Policy-maker says new role for European Commission could collide with ECB model risk regulation
Citrix Bleed hacks flag IT asset inventory shortfalls
To know what needs urgent patching, global banks first need to know what software they have
FX losses mount after Argentina’s devaluation
Citi, Adidas among those taking hits totalling over $3.3bn in Q4 as dealers cite lack of hedging tools
Bond funds made losing derivatives bets as rates climbed
Some managers’ use of interest rate derivatives looks like ill-timed speculation, study finds
Shock EU expansion of clearing mandate may hook more funds
Last-minute change to Emir 3.0 would include cleared contracts in threshold calculation
CFTC trade reporting update turns into another rewrite
Expansion of Unique Product Identifier accompanied by 30 new, US-specific data fields
Market seeks details of PBoC plan to open onshore repo trading
Traders welcome the move but want clarity on legal and collateral issues
Philippines readies new swaps benchmark
Philippine peso rates market has been without an interest rate benchmark since June 2023
Westpac fined over interest rate swap pre-hedging
Court finds against Australian bank for “unconscionable” behaviour, amid calls for a broader guidance around the practice
Voluntary carbon markets need to be ‘cut a bit of slack’
Catherine McGuinness says excessive focus on greenwashing in fledgling market could undermine its development
EquiLend cyber hack exposes trade reporting dependence
Ransomware attack at securities lending platform disrupts regulatory compliance
Kings and kingmakers in the Ucits FX forwards market
Counterparty Radar: First look into European retail fund data reveals HSBC and Vanguard as top dealer and manager
Bank of China issuance not ‘sufficient’ to cover TLAC needs
Announced issuance still only a fraction of total bail-in debt needs for Chinese G-Sibs
Undeterred, hedge funds bet on euro swap steepeners
Expected rate cuts and pension reforms are driving steepener flows, but large pension funds may not be finished hedging at the long end
Canadian MMFs face yield squeeze on CDOR’s demise
High-yielding BA notes will disappear from the market in June with no clear replacement at hand
JP Morgan names new co-heads of markets
Sippel and Thakur will lead a trading business that has been reshaped over the past 18 months
Judge hits pause on CDS auction-rigging lawsuit
Proceedings now wait for New York court ruling on a separate 2015 settlement’s applicability
Clearing members fear CFTC bending rules for crypto
Critics warn new framework for Bitnomial and LedgerX could undermine clearing integrity
New trading platform costs weigh on FX dealers
As roughly 75 platforms vie for business, LPs complain of struggle to keep up with connectivity costs
AI expert warns of algo-based market manipulation
Regulators must keep pace with new technology that could be used to control financial markets
Mizuho’s life insurance swaptions notional climbs 575% in a year
Counterparty Radar: Prudential, Global Atlantic add substantially to positions in Q3 as market’s notional total grows to $184bn