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European Commission calls for 2-year pension fund exemption on clearing rules
truePension funds in Europe should be granted a further two-year exemption from compliance with new central clearing rules for over-the-counter derivative transactions, said a report from the European Commission.
Clearbrook appoints head of hedged index strategies
trueManit Rye was named managing director and head of hedged index strategies at Clearbrook Global Advisors.
SEC approves new transparency rules on swaps trades
trueMost swaps trades will have to be reported to the public under rules approved by the SEC on Wednesday.
State Street Global Markets shuttering its derivatives clearing business
trueState Street Global Markets will close its U.S. derivatives clearing business early next year and has halted plans to launch a similar business in Europe.
ISDA taps Societe Generale executive as new chairman
truestrong>Eric Litvack was named chairman of the International Swaps and Derivatives Association, effective Jan. 1.
Booming derivatives costs are welcome news for ETFs
trueWelcome to intended consequences.
18 banks sign ISDA rules to delay swaps termination rights
trueNew rules that will delay swaps termination rights and collateral demands were signed by 18 major banks, the International Swaps and Derivatives Association announced Wednesday.
Pact raises caution flag on swaps
trueAsset owners that use swaps could ultimately face losses and added risk as a result of an agreement among 18 major global banks.
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.
ISDA introduces rules to delay swaps termination rights
trueSwaps termination rights and collateral demands will be delayed under rules introduced by the International Swaps and Derivatives Association and agreed to Oct. 11 by 18 major banks.
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.
Managed funds group calls for market reforms
trueManaged Funds Association is calling on federal regulators to consider further structural reforms in equity markets.
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.
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.
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.