Derivatives

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  1. Florida SBA nears decisions on brokerage, collateral management searches

    trueFlorida State Board of Administration, Tallahassee, is considering five firms in its search for prime brokerage services: Citigroup, Deutsche Bank, New Edge, Bank of America Merrill Lynch and Bank of New York Mellon unit Pershing LLC.

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  1. BNY Mellon to shutter European derivatives clearing business

    trueBank of New York Mellon plans to close its European derivatives clearing business because the implementation of European clearing rules has stalled.

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  2. Managed funds group calls for market reforms

    trueManaged Funds Association is calling on federal regulators to consider further structural reforms in equity markets.

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  3. BNY Mellon shutters derivatives sales and trading business

    trueBank of New York Mellon is closing its derivatives sales and trading business, based in New York.

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  4. CFTC says it has evidence of price-rigging on ISDAfix benchmark

    trueDerivatives regulators told the Justice Department they've found evidence of criminal behavior following an investigation into banks' alleged manipulation of ISDAfix, a benchmark used to set rates for trillions of dollars of financial products.

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  5. Alaska pension fund alleges 13 banks colluded on derivatives benchmark

    trueAlaska Electrical Pension Fund, Anchorage, filed a lawsuit Thursday charging that 13 banks conspired to fix the ISDAfix benchmark rate, a “key interest rate for a broad range of interest rate derivatives and other financial instruments,” according to the filing.

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  6. CFTC commissioner appointed CEO at International Swaps and Derivatives Association

    trueScott O'Malia was named CEO of the International Swaps and Derivatives Association, the organization announced Wednesday.

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  7. SEC expands its cross-border swaps rules

    trueThe SEC on Wednesday voted to extend its cross-border securities-based swap rules to include transactions executed by foreign divisions of U.S. banks when an affiliate’s trades are legally guaranteed by the parent company.

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  8. American Beacon picks AHL to subadvise managed futures fund

    trueAmerican Beacon Advisors hired AHL Partners, a subsidiary of Man Group, as a subadviser for a new mutual fund, the American Beacon AHL Managed Futures Strategy Fund.

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  9. Collateral agreements increase amid new regulations, ISDA survey finds

    trueRegulatory requirements and increased best practices in swaps and derivatives trading have led to increases in collateral agreements, whether the trades are centrally cleared or not.

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  10. SEC proposes additional requirements for swaps dealers

    trueSwaps dealers would be required to maintain daily security-based trading records under proposed rules announced by the SEC on Wednesday.

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  11. Regulators put indemnification costs in spotlight

    trueThe cost of indemnification — insurance against counterparty default — might have to be carried on bank balance sheets under possible domestic and international regulations, and that could spur asset owners to make changes in their securities lending programs.

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  12. 2 Toronto professors win Markowitz prize

    trueJohn C. Hull and Alan D. White — both of the Joseph L. Rotman School of Management, University of Toronto — were named winners of the $10,000 Harry M. Markowitz Award prize, according to a joint statement by New Frontier Advisors and the Journal of Investment Management.

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  13. BNY Mellon closes U.S. derivatives clearing business

    trueBank of New York Mellon closing its U.S. derivatives clearing business.

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