Day: April 3, 2018

Aston Capital Management Gets Swap Dealer Status

Aston Capital Management is now a provisionally registered US Swap Dealer.

The National Futures Association (NFA) notified the firm and updated its website to reflect this news on April 2.

According to the NFA website: “A swap dealer (SD) is an entity that holds itself out as a dealer in swaps; makes a market in swaps; regularly enters into swaps with counterparties as an ordinary course of business for its own account; or engages in any activity causing the entity to be commonly known in the trade as a dealer or market maker in swaps.”

Bloomberg Announces Philippines FX Initiatives

The Bankers Association of the Philippines (BAP) and Bloomberg have announced a series of new initiatives aimed at furthering the growth of the FX market in the Philippines.

The BAP has appointed Bloomberg as the new calculation agent for the USD/PHP spot reference rate. The spot reference rate is frequently used as a benchmark by onshore and offshore banks, corporations and asset managers in the Philippines for trade execution, valuation and benchmarking of portfolios.

“We are pleased to partner with Bloomberg to provide enhanced solutions to the FX community in the Philippines,” says BAP’s managing director, Benjamin Castillo. “These new initiatives will support the Bangko Sentral ng Pilipinas’ (BSP) financial market development reforms to better organise and deepen the country’s FX market. We look forward to execution efficiency, increased market liquidity and transparency leveraging Bloomberg’s technology platform and industry best practices.”