-
July
Roger Liddell, CEO of LCH.Clearnet, has said there is little prospect of interoperability between European derivatives clearing houses. The term means giving customers the choice of where their trades are cleared.
-
May
Eurex has shaken up its customer and sales strategies, creating two new clearing teams and a new product management and services team to sit between its product development and sales teams, FOi has learned.
-
Goldman Sachs Futures has joined Singapore Exchange’s securities market as a trading and clearing member, the US investment bank announced on March 22. It is already a member of its derivatives segment. The addition brings the total number of SGX securities trading members to 25.
-
LCH.Clearnet SA has migrated all its 56 members to the BT Radianz Shared Market Infrastructure. The migration took more than six months. The clearing house also plans to roll out BT Radianz to 68 members of LCH.Clearnet Ltd and five other partner organisations by May.
-
Walter Lukken is to start on May 1 as chief executive of New York Portfolio Clearing, the joint venture between NYSE Liffe US and the Depository Trust and Clearing Corporation which plans to clear bonds and derivatives together.
-
NYSE Euronext’s decision to stop using LCH.Clearnet and create two new clearing houses of its own will lead to a substantial change in the European clearing landscape, and will feed into the interoperability debate .
-
Tradeweb announced in early April that an insitutional client had used Tradeweb for the first time to centrally clear an electronic swap on a multi-dealer platform.
-
April
Cetip, the newly privatised Brazilian depository for OTC and private securities and derivatives, has signed a non-binding commercial agreement with Clearstream, Deutsche Börse’s clearing house.
-
Swedish financial technology firm Cinnober, publisher of the TRADExpress trading platform, announced in February that it had won its first customer for its real time clearing and risk management service through TRADExpress.
-
Jacques Aigrain will be the next non-executive chairman of LCH.Clearnet, the clearing house, starting on April 6.
-
Intercontinental Exchange’s CDS clearing subsidiary, ICE Trust US, has appointed Christopher Edmonds as president, replacing Dirk Pruis. He will be responsible for managing the operational and regulatory aspects of ICE Trust.
Edmonds was previously chief executive of International Derivatives Clearing Group. He has also been chief development officer for Icap Energy and chief executive of Icap Futures.
-
March
If the authorities compel clearing of OTC derivatives, they will be making a big mistake, argues Ruben Lee. The policy is likely to create problems, rather than solve them.
-
Those who claim it is cheaper to engage in derivatives over the counter than through a central clearing counterparty are not taking the cost of credit risk into account, according to a study by the European Energy Exchange.
-
The UK arm of French brokerage Newedge has joined US power market Nodal Exchange, via its membership of LCH. Clearnet, Nodal Exchange was launched on April 8 last year, becoming the first exchange to offer locational futures contracts and related services to the US power market, with LCH.Clearnet as its central counterparty clearing house. Newedge becomes the seventh general clearing member to support trading on the exchange.
-
February
Deutsche Börse has signed a cooperation agreement with the People’s Bank of China to help set up a new interbank clearing house for over-the-counter derivatives.
-
Singapore Exchange introduced a new derivatives clearing system, SGXClear, in December.
-
Garry O’Connor has taken over from Chris Edmonds as chief executive of the International Derivatives Clearing Group, the new clearing service for interest rate swaps, majority-owned by the Nasdaq OMX Group.
-
US futures commission merchants will be able to use SunGard’s one-stop GMI platform to process and clear trades on BM&F Bovespa, the Brazilian stock and derivatives exchange, from the second quarter this year. The GMI system also helps with post-trade accounting.