US post-trade utility the Depository Trust & Clearing Corporation has launched a London-based trade repository for the US$553.8 trillion global OTC interest rate derivatives market. The repository will include data from 15 of the largest global dealers.
Asian equities are expected to rise by 10-15% in 2012, with a year-end target of 527 for the MSCI Asia ex-Japan Index, representing an upside of 10-15%, according to Credit Suisse.
Société Générale Corporate and Investment Banking’s direct capital access offering now includes electronic order facilitation of exchange-traded funds.
European trading platform operators are now starting to define their MiFID II and Dodd-Frank-compliant venue offerings but gaps in the two rulebooks are causing uncertainty for those wanting to service both American and European markets.
US Congress’s House Financial Services Committee has approved bills in the Dodd-Frank Act that clarify swap execution facilities and exempt some buy-siders from risk mitigation measures concerning OTC derivatives.
The European Parliament’s Economic and Monetary Affairs Committee has issued a questionnaire on MiFID II ahead of its first meeting to discuss the new legislation, which has been confirmed for 5 December.
Some MF Global account holders may see their money earlier than originally expected, following the broker’s bankruptcy and subsequent freezing of customer positions.
US buy-side firms have warned that current derivatives rules are confusing and open to interpretation, backing regulators’ plans for a rethink of the Investment Company Act of 1940.
Italian banking group UniCredit has entered into a partnership with Paris-based broker Kepler Capital Markets to create a western European equities unit.
Wednesday’s decision by LCH.Clearnet to increase the margin required for Italian bond exposure has highlighted the potential costs and liquidity problems market participants could face as a wider range of instruments are centrally cleared.