Hester Serafini joins ICE as chief operating officer of ICE Clear US, nine months after she left the US investment bank.
Cinnober will upgrade the clearing technology for futures and options contracts traded on the Osaka Securities Exchange (OSE).
Citi’s Jerome Kemp says clearing brokers must accept the new reality facing them and adopt radical changes to their models.
Dave Olsen, global head of futures, options and OTC clearing for the bank will also leave the team, according to an internal memo.
Emily Portney left the bank on Monday to “pursue a new opportunity”, according to an internal memo.
The cut-off date for the ruling is February 21, and if an agreement is not reached by then, the cost for European banks to trade and clear with US clearing houses will sky rocket.
Central counterparty (CCP) costs are driving the buy-side decisions on where to clear their derivatives trades, according to a new report from TABB Group.
The majority of buy-side firms, including pension funds, are expected to begin clearing of derivatives from the second half of 2017.
Eurex Clearing is the sixth non-US CCP to win CFTC approval for derivatives clearing.
Stephen Li will run the bank's US derivatives business as Michael Yarian, head of its rates trading unit, departs.