Europe must learn lessons from US margin rollout, warn officials
Last week’s rollout of margin rules for uncleared swaps in the US, Canada and Japan has been characterised by some participants as a ‘mad scramble’ that was lucky to muddle across the finish line...
View ArticletruePTS teams up with LEI Smart on counterparty data
truePTS, a post-trade service provider for derivatives processing, has unveiled truePTS Counterparty Manager, a counterparty data management solution developed in partnership with LEI Smart.
View ArticleIcap replaces BrokerTec CEO
Icap has promoted a senior official to run its EBS BrokerTec fixed income electronic trading division.
View ArticletrueEX adds BNPP to dealer pool
trueEX, the interest rate swap trading platform, has added BNP Paribas as a market maker, taking its pool of global derivatives dealers to 21.
View ArticleWrong approach on Japan derivs, but right result
The US Commodity Trading Futures Commission's split over whether to accept Japan's uncleared margin rules as equivalent to the US was not an ideal outcome. But the decision, however contentious, is a...
View ArticleGoldman revamps CSAs through Euroclear
Goldman Sachs has signed up many of its major dealer counterparties to new CSA documents for non-centrally cleared OTC derivatives in the last couple of weeks, using a Euroclear service to manage the...
View ArticletrueEX closes in on full dealer range
Interest rate swap trading platform trueEX has set its sights on a narrowing pool of remaining dealers it has not signed up, as the addition of BNP Paribas this week took its market haul to 21.
View ArticleISDA: derivs market must push harder on standardisation and efficiency
Derivatives market participants must embrace new technologies to meet the challenges it faces in seeking greater standardisation and efficiency, the International Swaps and Derivatives Association has...
View ArticleSBI lays foundation for offshore Indian AT1s
State Bank of India launched the first-ever offshore Basel III compliant additional tier one (AT1) bank capital offering from an Indian name on Wednesday, a deal market participants expect to set the...
View ArticleUK reconsiders Solvency II after Brexit
A UK committee has launched an inquiry into Solvency II this week, as it considers other options for the country’s insurance industry following the decision to leave the EU.
View ArticleAT1 outperforms as demand swells
The weaker support for bonds this week seems not to have affected additional tier one (AT1) paper, which is enjoying something of a clamour for the limited supply on offer.
View ArticleSamurai shines with HSBC's record breaking TLAC whopper
The yen market, for so long held back by an in-built caution as well as unfavourable swap rates, is rapidly re-establishing itself as crucial source of capital for some of the world’s biggest banks.
View ArticleSREP reigns despite Bank of Italy’s capital buffer revision
The Bank of Italy announced it would soften application of the capital conservation buffer (CCB) in line with most other European countries, but the move is not expected to relieve any pressure on...
View ArticleSBI makes history printing first Indian offshore AT1
State Bank of India (SBI) succeeded in pricing the first offshore Basel III additional tier one (AT1) offering from an Indian name this week, but a bullish pricing strategy meant orders were muted and...
View ArticleEuro insurance sub market given the kiss of Swiss Life
Swiss Life brought a perpetual subordinated deal to the euro market on Thursday, finding little trouble in the primary market despite the week’s cautious tone ahead of next week’s Federal Reserve meeting.
View ArticleAT1s hold rock steady as swelling demand outweighs volatility
With additional tier one (AT1) issuance volumes at record lows, yield-strapped investors are so thirsty for new paper that cash prices have remained steady throughout the week’s volatility.
View ArticleDB AT1s pasted as $14bn lawsuit puts coupons in trouble
Deutsche Bank is at real risk of failing to pay coupons on its additional tier one instruments, as a potential $14bn US RMBS settlement threatens to erase the bank's available distributable items...
View ArticleLBBW skirts volatility for 'ambitious' T2
LBBW rode through last week’s volatility to raise €500m of tier two capital on Monday. Though order books may have shrunk in size, the bank was not forced to pay up and many accounts participated in...
View ArticleEU military aspirations could damage EIB's ethical credentials
The European Union’s newly militaristic tone risks undermining the socially responsible activities of its pet bank.
View ArticleEuropean CLO market encouraged by post Brexit recovery
Manager flexibility and a strong buyer base has helped drive the European CLO market forward since the UK vote on European Union membership, but increasing diversification is a key challenge for...
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