Day: 30 April 2018

Barings Makes Smart Hire

Barings has announced the appointment of Dr Christopher Smart as head of macroeconomic and geopolitical research at the firm.
Dr Smart will lead a newly-established team to explore the impact of economic and political developments on financial markets and lead a team that will draw on the analysis of Barings’ 600+ global investment professionals who manage more than $305 billion in public and private market strategies.Dr Smart spent six years as a senior policy maker for international economic affairs in the Obama administration.

Zografos Joins FastMatch in NYC

Nicholas Zografos has joined FastMatch as a director of sales, reporting to Shawn Egger, head of sales, Americas.
Zografos was most recently at BNP Paribas, where he was a director in derivatives clearing services sales (DCS) and marketing for the Americas.
Prior to BNP, Zografos spent nine years at Bank of America, last as a director within its prime brokerage group. Prior to that position he spent eight years at the private bank, Julius Baer, on the FX sales and trading team.

CMC Markets Launches “Professional” Offering

Online trading provider CMC Markets has responded to the recent announcement by the European Securities and Markets Authority (ESMA) that retail clients will no longer be able to use their current leverage levels, by creating a new CMC Pro account for eligible clients.
The ESMA changes establish margin limits for clients, rather than the broker-dealers and CMC says the new account will allow clients to continue to trade with their current leverage levels.To be eligible, clients will have to demonstrate that they are capable of making their own investment decisions.

Research Paper Takes Aim at “Unrealistic” Non-Cleared Margin Requirements

The International Swaps and Derivatives Association (ISDA) has published a new academic paper that analyses the regulatory initial margin framework for the non-cleared derivatives market and argues that the 10-day liquidity horizon applied under the framework is “not realistic”.
The paper, written by Rama Cont, chair of mathematical finance at Imperial College London, examines the rationale for the 10-day liquidity horizon applied under the initial margin rules for non-cleared trades, and assesses whether it is appropriate. The 10-day period is double the five days set for cleared trades.