Month: June 2013

CFH Markets Rebrands

CFH Markets has re-branded as CFH Clearing, a move the firm says, “more accurately reflect its business operations as an interbank prime of prime solutions provider to small and medium sized institutional clients”. CFH claims over 400 institutional clients in 82 countries along with $1.5 billion in interbank credit lines, and says it is “one […]

…As TradeWeb Marks a First in IRS

Tradeweb Markets says it has supported the first electronic indicative pre-trade credit check between a buy-side client and a futures commission merchant (FCM) for an over-the-counter derivatives transaction. Using the electronic credit checking solution from Tradeweb, the customer successfully received an indication of available credit from JP Morgan as the clearing bank and executed a […]

Three Banks Live with MarkitServ Credit Centre…

Bank of America Merrill Lynch, Citi and Goldman Sachs has signed up as futures commission merchants (FCMs) to use MarkitServ’s Credit Centre, a pre-trade credit checking solution for the OTC derivatives market. The service, which was unveiled in March of this year, provides buy-side firms, regional banks and other institutions that access clearing through FCMs […]

ECU Group Hires Broadhurst

UK-based currency manager ECU Group has hired Andrew Broadhurst as head of institutional currency management services. Broadhurst joins from Overlay Asset Management Partners where he was a partner and head of global business development of the firm that provided exclusive services to Overlay Asset Management, a subsidiary of BNP Paribas Investment Partners. Prior to this […]

Icap, Tradition Live with GBP Swaps

Inter-dealer brokers Icap and Tradition have both added Sterling interest rate swaps to their electronic trading offerings. Icap, the world’s largest inter-dealer broker, last week started trading in Sterling (GBP) on i-Swap, its electronic interest rate derivative platform. This follows the successful launch of i-Swap in the US in Dollars in February 2013. Euro interest […]

Thomson Reuters Acquires Derivatives Pricing Firm

Thomson Reuters says it has acquired Pricing Partners, a software developer and provider of OTC derivative pricing analytics and services for financial firms. Terms of the deal were not disclosed. The firms say Pricing Partners will complement Thomson Reuters Pricing Service (TRPS), a solution that provides evaluated prices to support portfolio, fund and single security […]

…And Others Seek Cross Border Rules Delay

In a separate request to CFTC chairman Gary Gensler, the American Bankers Association, ABA Securities Association, Futures Industry Association, Institute of International Bankers, International Swaps and Derivatives Association, and the  Securities Industry and Financial Markets Association, have written to seek a six month extension to the CFTC’s Final Exemptive Order Regarding Compliance With Certain Swap […]

Industry Bodies Seek Clearing Delay…

Three industry bodies have written to the US Commodity Futures Trading Commission to request a delay in the implementation of swaps clearing rules, due to come into force today (June 10). The Investment Company Institute, the Investment Adviser Association and the Asset management Group of SIFMA, wrote to Ananda Radhakrishnan, director of the CFTC’s Division […]

BNP Paribas Bulks Up PB and Clearing

BNP Paribas Corporate and Investment Banking has made a number of appointments to its derivatives client clearing business in London and New York. The bank says the appointments, “demonstrate the bank’s continued investment in the OTC clearing and FX Prime Brokerage space, to support client requirements in the fast-changing regulatory environment”. The derivatives client clearing […]

Deutsche Shuffles as Shell Steps Aside

Deutsche Bank has made further changes to its FX business following news that Jason Shell is taking a sabbatical from the bank. A spokesperson for Deutsche Bank confirms that Shell, head of FX in North America at the bank, is taking a career break for nine months while he sails from Argentina to the Caribbean. […]