OTC derivatives
MarkitServ launches cloud-based post-trade processing platform
The firm looks to migrate FX options and spot to TradeServ in 2019
Outstanding OTC FX derivatives notional at all-time high – BIS
Clearing of FX contracts and gross market value of over-the-counter FX rises in H1 2018
CME to retire Nex, revives EBS as sub-brand
The deal between the two firms will go ahead after full regulatory approval in all jurisdictions
Birchall joins LCH as head of Asia-Pacific
Kate Birchall fills the vacancy left by Marcus Robinson, who has taken a role at the clearing house in London
CME shifts FX options expirations in step with OTC
Latest move by exchange to make FX offering more harmonised and engaged with over-the-counter space
SGX’s Lam in bid to bring together two worlds
SGX set to launch FlexC FX Futures in August, with the aim of combining the best that OTC and futures have to offer
MarkitServ connects to Asigna for clearing Mexican peso
New connection enables a standardised workflow and connectivity for clearing Mexican peso TIIE 28 swaps
OTC derivatives values fall to 10-year low – BIS
The most recent slump continues the retreat from gains witnessed in the first half of 2016
New records for LCH volumes in 2017
Strong growth driven by roll-out of new products, regulatory change and onboarding of new customers globally
ForexClear prints new record, clearing more than $100bn in one day
And recently launched G10 NDF service clears over $700m in a month
LCH SwapAgent processes first cross-currency basis swap
It is the first non-cleared trade to be transacted as LCH STM, SwapAgent’s settlement-to-market legal and operational framework
CME launches analytics tool with Kalahari
Shows pricing of CME FX futures compared with OTC prices; can be broken down into spot, forwards and swaps
MarkitServ rolls out workflow automation for cross-currency swaps
Enhanced service launched in conjunction with CLS and LCH
Angel CoFund invests in OTCX
The OTC derivatives-trading platform receives backing from the investment fund
River and Mercantile opts for OTCX
Asset manager seeks to digitalise and optimise its OTC derivatives processes
EU and US regulators agree on margin equivalence
As the regulators take a common approach, Mifid II-regulated venues look set to be exempt from Sef registration requirements
London Stock Exchange Group boosts LCH stake
LCH’s activity has ballooned over the past 12 months, with its ForexClear platform clearing more than a trillion dollars’ worth of non-deliverable forward trades in August
LCH SwapAgent completes first trades
Citi and Deutsche Bank executed the first trades, a Swiss franc-denominated interest rate swap and euro-denominated inflation swap
BoE warns of potential disruption to clearing business for EU firms
Fragmentation of market-based finance could result in greater costs and risk for European Union and UK companies
Michael Davie returns to LCH to lead rates business
Davie takes over from Daniel Maguire, who became chief operating officer in April
Surprise renminbi strengthening prompts unwinds
“A lot of long [US$] positions were unsustainable and had to be re-evaluated,” says FX structuring head
Regulators relent ahead of VM big bang
Firms with "significant exposures" must stick to March 1 deadline, however
FX contracts in OTC derivatives soar to record high
FX instruments, as a share of all over-the-counter derivatives, rise from 12% in 2013 to 16% this year
Underwood FX builds out expert offering
The firm brings in legal, futures and other OTC professionals as it expands into traded markets intelligence