Topic: Derivatives

China enacts “historic” futures and derivatives law

China has enacted its first “fundamental” futures and derivatives statute, making it a clean netting jurisdiction for the first time – but there are fears its new status could run its firms up against a rapidly-approaching global deadline.

03 August 2022

Swiss Libor manipulation suit settles

A long-standing class action against Deutsche Bank and NatWest over allegations of a conspiracy to fix Swiss franc Libor is set to conclude, as a New York federal court approves a settlement in a class action lawsuit revolving around LIBOR manipulation scandals.

06 July 2022

China offers conduit to yuan-backed swap derivatives for overseas investors

Central banks and regulators in China and Hong Kong have agreed to provide offshore access to Chinese interest rate swap derivatives, making another move to internationalise the Chinese yuan.

06 July 2022

CFTC lists first crypto swap dealer

The United States’ derivatives trading regulator has registered its first cryptocurrency swap dealer, with Sullivan & Cromwell advising.

20 April 2022

Tighten up ESG-linked derivatives to avoid greenwashing, ISDA urges

Trade organisation ISDA has called for reform in the ESG-friendly investment sector, calling on market participants to adopt quantitative key performance indicators to verify that sustainability-linked derivatives meet their stated goals.

15 September 2021

Biden moves to fill CFTC vacancies

The Biden administration has tapped the Commodity Futures Trading Commission’s acting chair Rostin Behnam to fill the role on a permanent basis, and nominated replacements for two of the Commission’s three vacancies.

15 September 2021

Archegos collapse calls for renewed derivatives scrutiny, IOSCO chief says

The United States’ securities regulator has approved its first ever swaps database, over a decade after Dodd-Frank directed it to, as the head of the International Organisation of Securities Commissions calls for a re-evaluation of worldwide derivatives rules in light of the Archegos collapse.

12 May 2021

CFTC ushers in new electronic trading rules

The United States’ derivatives regulator will require exchanges to increase their risk controls to minimise market disruption stemming from errors in electronic trading, although a dissenting Democratic commissioner says the regulator “can and should do better” to counter volatility under stressed market conditions.

11 December 2020

CFTC green-lights Brexit swap relief after ISDA recommendation

The United States’ derivatives regulator has announced it will allow UK firms to transfer swaps without subjecting them to margin requirements when the Brexit transition period expires this month, after a request from the International Swaps and Derivatives Association.

07 December 2020

EU unmoved on derivatives obligation, leaving UK to “sort out its own mess”

EU regulator ESMA has refused to budge on rules that will disallow derivatives trading on UK venues once the Brexit transition period ends, leaving the UK at risk of losing its dominance of the multi-trillion dollar global derivatives market.

26 November 2020

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