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Ex-Citi CDO trading chief joins Jefferies as head of European fixed income
5 years ago
Jefferies has appointed a former Citi European credit and pre-crisis CDO trading head to lead its European fixed income business -
Astaldi CDS holders face Thursday deadline on auction deliverables
5 years ago
Market participants with exposure to Astaldi have until 5pm London time tomorrow (8 November) to submit any other potential deliverable obligations into the auction to settle the company’s credit default swaps -
UK prepares derivative regs for no-deal Brexit
5 years ago
The UK Treasury is seeking to amend onshored European Market Infrastructure Regulation (EMIR) legislation as it battles to avoid the risk that the country will leave the European Union without an effective regulatory framework for over-the-counter derivatives, central clearing counterparties and trade repositories in the event of a no-deal Brexit -
Astaldi credit event auction will have two deliverables, says DC
5 years ago
Only two Astaldi bonds are deliverable into an auction to determine the final price of its credit default swaps, the Determinations Committee has indicated -
Isda transfers credit determinations secretary role to subsidiary
5 years ago
The International Swaps and Derivatives Association has relinquished its role as secretary to the credit derivatives determinations committees (DCs) with the appointment of a new unit, DC Administration Services (DCAS), to manage this function -
Isda extends deadline for derivatives benchmark consultation
5 years ago
The International Swaps and Derivatives Association has extended the fast-approaching deadline for its consultation on derivatives benchmark fallbacks, to allow more time for responses -
Market rout drives US/Europe credit convergence, as Brazil leads Latin widening
5 years ago
Credit spreads have sharply widened globally as financial markets are being rocked by concerns for a trade war and rising US rates. An equity-led rout in the US yesterday afternoon -
Correlation strengthening between company ESG factors and CDS spreads, says Hermes
5 years ago
There is a “significant correlation” between companies that have stronger environmental, social and governance (ESG) practices also benefitting from tighter credit default swap spreads, according to research from Hermes Investment Management -
Hard Brexit threatens systemic cliff edge for derivatives, warns joint paper
5 years ago
A no-deal Brexit could have a systemic effect on derivatives markets as it would immediately restrict EU 27 firms from transacting with UK entities and acting as clearing members to UK central counterparties, a group of major trade bodies has warned in a paper published today -
Astaldi triggers first credit event in iTraxx on-the-run indices for nine years
5 years ago
Astaldi has triggered a bankruptcy credit event, the Isda-hosted EMEA Credit Determinations Committee has ruled -
Astaldi credit event question hangs in balance as EMEA DC meets
5 years ago
The fate of credit default swap contracts referencing Astaldi could be decided today, with the Isda-hosted EMEA Credit Determinations Committee meeting to decide if the Italian builder has triggered a bankruptcy credit event -
Isda and Linklaters roll out test version of initial margin docs service
5 years ago
Five and a half months of partnership between the International Swaps and Derivatives Association and Linklaters has borne fruit, with the launch of a test version of an online tool that will allow firms to electronically negotiate and execute initial margin (IM) documentation -
Astaldi credit event question posed as its distress weighs on iTraxx Crossover
5 years ago
Astaldi, a constituent of iTraxx Crossover, has been referred to ISDA-hosted Credit Determinations Committees as a possible bankruptcy credit event – less than two weeks after the index rolled into a new series -
Tesla CDS hits big bump on largely self-driven woes
5 years ago
Tesla Motors’ five-year credit default swap is at a widest-ever print of 21.3/23.3 points up front going into the week -
IHS Markit launches derivatives initial margin calculator
5 years ago
IHS Markit has launched an Initial Market Calculation Service to help market participants prepare to meet regulatory requirements for non-cleared derivatives trades across credit, commodities, equities, FX and interest rates -
Brexit disruption risk for derivatives is uncomfortably high, Nicky Morgan tells ISDA conference
5 years ago
Brexit cast a long shadow over the International Swaps and Derivatives Association’s Europe Conference in London this week, as keynote speaker Nicky Morgan, chair of the UK’s House of Commons Select Committee, said the likelihood of a no-deal scenario is over 50% and warned about the disruption this would cause to derivative markets -
Orchard hires former UBS credit index options and tranches global head
5 years ago
Orchard Global Asset Management has hired an ex-UBS senior correlation trader as a portfolio manager in London -
Crossover users face waking up to much tighter index amid credit selection rule change
5 years ago
September could bring the biggest conceptual repurposing of the iTraxx Crossover index since its series 22 expansion, with IHS Markit set to overhaul rules governing how constituent credits are selected -
Loss absorbing rules spell wider trading for financials index
5 years ago
An unusually wide roll is expected in the iTraxx Europe Senior Financials basket when it moves from series 29 to 30 this month, as Danish and Spanish banks begin to include new senior non-preferred bonds as their reference obligations for credit default swap contracts -
Nomura hires EMEA flow credit trading head following departures
5 years ago
Nomura has hired John Gousias to head its flow credit trading business in Europe, the middle east and Africa -
Rallye races towards over 50s club in CDS as Astaldi faces Crossover index ejection
5 years ago
Rallye, the parent company of supermarket chain Casino Guichard-Perrachon and a former fellow-constituent of credit default swap index iTraxx Crossover, has surged wider to near 50 points up front in five-year CDS trading -
CSO investors can use 'hedges from leftfield' for longer exposure - QIS podcast
5 years ago
Quantitative investment strategies, an area typically more associated with equity markets, are opening up new possibilities for credit investors and are a growing part of trading activity -
Barclays hires another senior EM trader as Turkey continues to roil markets
5 years ago
Barclays has made an experienced hire to its EM credit trading team in London -
TD builds out European credit trading arm with key hire
5 years ago
The Canadian-based investment bank has strengthened its European credit trading business with a senior credit trading official -
Mediobanca hires experienced credit trader to build out loan franchise
5 years ago
Mediobanca has appointed an ex-Deutsche Bank senior credit trader as head of loan trading
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