Europe
One vision, two paths: UK reporting revamp diverges from EU
FCA and Esma could learn from each other on how to cut industry compliance costs
CaixaBank lifts structural deposit hedges to two-year high
Receiver swap notional climbs to €68bn as bank guards NII
Real money investors cash in as dispersion nears record levels
Implied spreads were elevated to start 2026. Realised levels have been “almost unprecedented”
Investors turn to costly ‘all weather’ hedging strategies
Geopolitical and technology risks spur demand for multi-strategy QIS tail hedges
UK clearing houses face tougher capital regime than EU peers
Ice resists BoE plan to move second skin in the game higher up capital stack, but members approve
ECB seeks capital clarity on Spire repacks
Dealers split between counterparty credit risk and market risk frameworks for repack RWAs
People: You’re fired! US agency rejig, new CROs at ING, StanChart, and more
Latest job changes across the industry
Why UPIs could spell goodbye for OTC-Isins
Critics warn UK will miss opportunity to simplify transaction reporting if it spurns UPI
Calamos brings popular US autocall ETF to Europe
Dublin filing points to Q1 launch for Calamos Autocallable Income Ucits ETF
The state of IMA: great expectations meet reality
Latest trading book rules overhaul internal models approach, but most banks are opting out. Two risk experts explore why
EC’s closing auction plan faces cool reception from markets
Participants say proposal for multiple EU equity closing auctions would split price formation
SocGen’s PB clearing head departs for SwapAgent role
Jamie Gavin takes external consulting role for LSEG’s non-cleared swaps platform
Non-cleared derivatives margining jumps after framework rollout
Margin-to-notional ratio trails early regulatory estimates
MTS eyes 2027 launch for dealer-to-client swaps trading
Plans for US Sef licence could address missing piece in defunct WeMatch swaps tie-up
Hopes rise for EU re-entry to UK swaps market
EC says discussions on draft decision softening derivatives trading obligation are ‘advanced’
Santander SVAR surge lifts IMA RWAs 22%
Third-quarter spike contrasts with broad European declines
EBA supports global op risk taxonomy, but it won’t happen soon
New EU framework designed to ease adoption by banks; other jurisdictions have different priorities
Collateral velocity is disappearing behind a digital curtain
Dealers may welcome digital-era rewiring to free up collateral movement, but tokenisation will obscure metrics
New EBA taxonomy could help integrate emerging op risks
Extra loss flags will allow banks to track transversal risks like geopolitics and AI, say experts
BoE’s SSITG proposal could lead to $333m additional CCP capital
Plan would expand own-capital tranches deployed alongside member contributions at LCH, Ice and LME
US banks diverge from global peers on OTC clearing
Clearing rates fall in US as UK, Europe and Canada push higher