Derivatives
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News
Ford kick-starts reverse Yankee market
Ford Motor Credit Company woke the reverse Yankee market up last Thursday, coming with a combined €1.25bn two-part deal split between five-year FRN and seven-year fixed tranches.
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News
Markets confront post-Libor landscape
Financial instruments with a total outstanding notional value of US$370trn are estimated to be exposed to the interbank offered rates, which will have to be moved to alternatives such as Sonia or Sofr, according to international financial markets trade bodies.
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News
Eurex scraps Singapore plan
Eurex has scrapped plans for a derivatives clearing and exchange hub in Singapore. Instead, it intends to extend its trading hours in Europe to capture more business from Asian investors.
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News
HSBC synthetic CLO Metrix downgraded after taking Carillion hit
Moody’s has downgraded provisional ratings on an unfunded CDS from an HSBC CLO hit by the collapse of Carillion. Carillion went into liquidation in January.
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NewsEurex set to launch direct clearing
Eurex Clearing is set to launch a new service allowing buyside firms to become direct members of the clearing house, with an announcement expected in the coming days.
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NewsEurope submits final swaps margin rules
Market participants have been left with less than six months to comply with rules on mandatory collateralisation of non-centrally cleared derivatives that in some areas differ substantially from earlier drafts. The final draft regulatory technical standards were unveiled by European regulators last week.
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NewsCME clears the way for swaptions
CME Group will begin clearing interest rate swaptions on April 11, making it the first clearinghouse to offer the service for a product that some believe may be too complex for central counterparties to risk manage.
