News
Futures will not beat swaps on margin alone, say buy-side firms
Swap futures have a number of advantages, but OTC instruments will continue to be popular, leading buy-side firms say
CFTC should extend US persons fix, says O'Malia
Agency has not begun debating final definition of US person and "will need to provide relief" when temporary exemption expires, says CFTC commissioner
Risk management central to hedge fund capital raising, says survey
As more institutional investors opt for hedge funds, robust risk management is being seen as a central function needed in order to raise capital, according to a survey by Prmia and SunGard APT
Ferc won’t appeal Hunter ruling, says Wellinghoff
Ferc chairman says agency won’t appeal ruling against it, but will seek to persuade Congress to change the law
Insurers fear non-recognition of equivalence under Solvency II interim reporting requirements
Group supervisors to determine whether European or local rules apply to non-European entities
Firms will be shut out of OTC market at June US clearing deadline
FCMs do not have capacity to sign up all category 2 firms, market participants warn – and swap futures stand to benefit
Volcker still likely to cause damage, expert warns
US banks remain highly cautious about the impact of Volcker rule, industry expert says
Singapore positions itself as OTC clearing hub for Asia
Clearing link with KRX will lead to larger volumes and efficiencies at SGX
Buy side struggling to pick forex platforms
Consolidation will shrink the number of competing platforms, but it is too early to pick winners, say panellists at FX Invest North America
UK insurers ‘must adapt to dual compliance burden’ as new regulators begin to flex muscles
Firms braced for duplication of compliance work amid signs that framework for regulators to share information is not working, lawyers warn
Central banks weigh use of OTC clearing houses
Survey finds nearly 40% of central banks are considering clearing their OTC derivatives
LGT Capital Partners opens China office
People moves
Evolution Markets creates Singapore physical coal desk
Evolution Markets is latest firm to ramp up efforts brokering coal cargoes in Asia
New clearing rules have already been broken, FCMs say
Some client trades have not been cleared within 60 seconds
Credit Suisse’s head of Asia equity derivatives sales retires
Min Park, regional head of equity derivatives and convertibles sales, is retiring from his role at Credit Suisse
Mariner picks ex-BlackRock rates head for macro strategy
Eric Pellicciaro, the former head of global rates investments at BlackRock, will manage a global macro portfolio for Mariner’s newly launched incubation fund
Nasdaq OMX to launch FX clearing in November
Stockholm-based clearing house becomes the latest to announce its intention to enter the forex space
US foreign bank plans threaten bail-in system, says Finma
Cross-border resolution could be harder under US-style capital and liquidity plans, says Finma's head of bank supervision
SEC forces Ice into single-name CDS clearing U-turn
Clearing house has been told its own rules prevent it from shelving buy-side clearing for single-name CDS contracts
Uncleared margin rules could hold back new CSA adoption
New proposals on the margining of uncleared derivatives trades could dampen take-up of the standard CSA
Markit and Traiana prepare for clearing hub showdown
Two firms now testing central credit-checking service
United Arab Emirates amends rules on private placement of hedge funds
UAE rules have changed to exempt registration for private placement of foreign funds, overturning regulations adopted in 2012 that lengthened the process of offering hedge funds to local investors
Lloyd’s insurers challenged by internal model change policies
Questions on parameterisation remain unanswered by European rule-makers
Lack of regulatory clarity hampering PRA code of conduct
Price reporting agencies expect to release updated industry code of conduct shortly, but warn regulatory uncertainty could delay their efforts