Interest rate derivatives
Race to create term risk-free rates hots up
Markit joins term Sonia hopefuls; four providers release term €STR plans
UK swaps carrot for stick in Libor switch
BoE committee mulls policy action, which could include capital hikes on Libor exposures
Lloyds wins consent to flip £1bn covered bond to Sonia
The conversion, backed by 99.84% of bond holders, marks another milestone in the Libor transition
€STR swap trading gets under way
HSBC and JP Morgan strike first swap linked to the new euro short-term rate
Synthetic Libor mooted as ‘tough legacy’ fix
Recalibration of doomed rate or catch-all legislation under debate as lifeline for lingering contracts
LCH sets date for euro swap discounting change
Clearer will make switch for €91 trillion in swaps next June
Eurex to adopt €STR flat discounting for Euribor swaps
Switch planned for Q2 of 2020, with a single cash payment to correct value transfers
Short-term interest rate ETD notionals leap $14trn in Q2
Open interest in exchange-traded options with maturities of a year or less rise 19%
Libor transition and implementation – Covering all bases
Sponsored Q&A
Isda sets two options for Libor fallback spread
Historical spread adjustment to be based on five-year median or 10-year mean
FCA urges dealers to quote Sonia swaps on Clobs
Regulator co-ordinates efforts to stream firm prices as part of ramped-up transition plans
Deutsche opens bidding for interest rate derivatives
Fixed income assets on the block after equity derivatives sale closes
SOFR futures volumes surge as overnight repo rates spike
Daily trading volume of one-month contracts climbs 156% between September 16-17
Renminbi contracts grow share of interest rate derivatives turnover
Instruments denominated in non-G10 currencies accounted for 3.8% of average daily turnover in April 2019
Short-term contracts dominate interest rate derivatives turnover
Overnight index swaps made up 31.5% of daily average turnover in April
UK dealers see over half of interest rate derivatives trades
86% of all euro-denominated contracts handled in the UK in April 2019, up from 75% in 2016
FCA chief calls for EU to extend Brexit clearing exemption
Bailey also urges EU to grant equivalence determinations for UK trading venues
Asia Risk Awards 2019: The winners
The best of the best in Asia
House of the year, Vietnam: Techcombank
Asia Risk Awards 2019
SOFR discounting switch splits Goldman and JP Morgan
CFTC committee calls on clearing houses to align timing and compensation mechanisms
Singapore looks to establish term RFR by 2020
Swaps linked to overnight rate will help create term structure, says industry committee member
Korean regulator likely to probe issuers of rate-linked products
Mis-selling enquiry may extend to structuring banks as global rates plunge threatens retail notes
Equity derivatives surge at US G-Sibs
Gross notionals have increased 8.9% year-on-year
Swaps between UK banks and foreign firms climb in Q2
Total value of derivatives assets and liabilities with overseas lenders hits £2.09 trillion