Swaps
Matherne joins BNY Mellon as global head of FX forwards
Paul Matherne is the latest staffer to make the switch from Deutsche Bank to BNY Mellon
Market participants start testing Mifid II systems
But they do not feel fully ready for the sweeping changes taking effect on January 3
CLS settled volumes rise 11% in September
Spot, forwards and swap volumes picked up pace compared with August and September last year
FXSpotStream hires San Pietro; adds State Street
Tom San Pietro, former CEO of LavaFX, joins FSS in newly created role
BIS warns of $13 trillion hidden debt hole
Trillions of dollars of FX derivatives are not being accounted for when calculating the level of debt in the global economy
London Stock Exchange Group boosts LCH stake
LCH’s ForexClear platform cleared more than a trillion dollars' worth of non-deliverable forward trades in August
TriReduce hits $1 quadrillion in swaps compressions
Demand has been high as banks seek to lower exposures
FIA calls on Trump for financial regulation review
Lukken says it's time to know whether the rules implemented after Dodd-Frank are fulfilling their intended purpose
Covered interest parity anomaly signals trouble ahead if volatility picks up
Since the financial crisis, a persistent breakdown of covered interest parity signalled an anomaly in the market. Over the last two years the phenomenon has accentuated and policy-makers should not dismiss its meaning, warns the BIS
CFTC charges and monitors Deutsche over swaps violations
Agency says incomplete, inaccurate data affects what is made publicly available and the data it uses to gauge systemic risk
TJM hires two for sales team
Foreign exchange intermediary firm pulls talent from Jefferies and CIBC as it embarks on FX business diversification
Bats Hotspot prepares outright FX forwards launch
New product could get rolling in the autumn
Regulation will change markets, but slower than expected
But market participants say they are in the early stages of a transformation that could accelerate in the coming years
Declining spot sinks FX volumes in US
In October, average daily volumes were 26% lower than in the same month of 2014
US Senator commends House clearing exemption for FX
The decision by the US House of Representatives in December to exempt foreign exchange swaps and forwards from mandatory clearing requirements seems sensible, said Judd Gregg, a member of the Senate Committee on Banking, Housing and Urban affairs.