North America
Calamos combines rival structures with new autocall ETF
Generic local vol model allows exotic payoff to be packaged in index without vol target
Choppy Q1 precedes big Q2 for US rates books
Interest rate and inflation swaps hit notional records, filings show, while mutual funds pile into Euribor and Sonia swaptions
Imminent US shake-up of LCR slated to include discount window
Adding Fed liquidity facility to bank regulation may help overcome stigma, raise lending capacity
An agentic bank? Not so fast
With no clear definition or way to gauge ROI, claims of AI adoption should be taken with a pinch of salt
European UST holdings overtake Asia for first time
China and Japan see declines in US Treasuries while UK holdings approach $1trn
Kalshi seeks CFTC approval for 10-year US Treasury perp
Extended review period for first-of-its-kind contract will run until November 29
US fund managers reshuffle dealer books amid new trading highs
Mutual funds, ETFs hit record FX forwards positions but retreat from options; insurers rotate counterparties
CME’s single-stock futures rev up to overtake ‘ugly’ options trade
New cash-settled contracts with EFP facility could be an appealing alternative to reverse conversions
UBS swaps funds spike 77% in August
Futures commission merchant reports highest customer funds since Credit Suisse takeover
At bigger banks, enterprise risk owns scenario frameworks
Risk Benchmarking research finds ERM teams tasked with providing effective challenge on scenario construction across risk silos
Fund giants turbocharge Wells Fargo’s FX forwards book
US bank jumps from 12th to second in Q2 2026 dealer rankings as Pimco and Vanguard ramp up trading
Equity swaps notional jumps by record $766bn at US G-Sibs
Notional rises 16% to $5.5 trillion in Q2, outpacing options growth
OCC initial margin hits record $223bn after 38.1% surge
Client net requirements nearly double in Q2 as ECC and HKSCC also set new highs
JP Morgan leads US banks to highest derivatives exposure in a decade
BNY, Goldman and Wells Fargo at all-time highs
CCIL leads CCPs with record margin calls
ECC calls most margin in five years ahead of first emissions auction
Limit band risks stale prices in 24/7 markets, SEC warned
Roundtable participants say proposed restrictions could leave stocks trading at unrealistic values
Liquidity risk spikes at Eurex, JSCC, NSCC
New highs for stressed payment obligations set at three CCPs
JP Morgan drives US G-Sibs’ equity shorts to record $356 billion
Bank accounts for nearly half of Q2 increase as rising equities push up short liabilities
NSCC issues record $27.6bn margin call in Q2
Required IM hits all-time high as posted cash nearly doubles
Major US banks’ equity collateral surges to record $140bn
Stocks overtake Treasuries as fourth-largest OTC collateral type
DB USA’s cleared OTC notional surges eightfold in Q2
Revival of FCM propels Deutsche’s cleared OTC derivatives to fourth-largest among non-G-Sibs