DTCC begins test phase for blockchain credit derivatives platform
15 of the world’s largest banks have begun testing the blockchain-based credit derivatives platform by the Depository Trust & Clearing Corporation

Isda and Linklaters roll out test version of initial margin docs service
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

IHS Markit launches derivatives initial margin calculator
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

Rallye races towards over 50s club in CDS as Astaldi faces Crossover index ejection
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

Mediobanca hires experienced credit trader to build out loan franchise
Mediobanca has appointed an ex-Deutsche Bank senior credit trader as head of loan trading

Central clearer resource concentration puts systemic risk in spotlight
A joint study by regulators has revealed that default resources are increasingly concentrated in just two central counterparties

IHS Markit obtains FCA approval as benchmark administrator under BMR
IHS Markit has been approved by the Financial Conduct Authority as an authorised benchmark administrator under the European Benchmark Regulation (BMR)

UK funds brace themselves against value-for-money ruling
The UK’s Financial Conduct Authority (FCA) has published its final set of fund governance rules that aim to strengthen the duty of authorised fund managers to their investors.

Tracking down the credit industry’s original winners
All winning managers at the first Creditflux awards survived the crisis, under their own names – like BlackRock – or under new owners. But what happened to the people who collected the trophies?
 

Dedication pays off in risk sharing
Fund managers are pitching dedicated CRT funds to institutional investors as market hits €75 billion in 2017 and US banks start to take notice. By Sayed Kadiri

Synthetic CDOs seek to follow CLOs
Growing issuance, interest in longer maturities and the emergence of a secondary market are encouraging dealers to believe that bespokes are on the road to acceptance. By Sayed Kadiri

Blackstone's GSO launches second credit alpha fund
GSO Capital Partners has launched its second Credit Alpha Fund, US SEC filings indicate

Managers predict skill will win out
We asked managers to predict the year ahead across a range of credit strategies. Overall, they had a positive outlook. By Grace Jennings-Edquist

Citi promotes European CLO head and co-head of credit correlation trading
Citi – a market leader in CLO origination and bespokes – has promoted officials responsible for these businesses.

US pension scheme puts $100 million into top-performing CQS fund
A multi-strategy credit fund run by CQS has earned a $100 million commitment from a US pension fund

Nomura renews interest in synthetic CDOs by targeting full-cap deals
After sitting on the sidelines last year, Nomura has returned to the bespokes space

New tailored credit index tranches draw in private bank investors
A new product aimed at private banks is quietly taking off in the synthetic structured credit space

Chenavari fund swells assets by $72 million following relaunch
Chenavari has grown assets of a long/short credit vehicle by more than $70 million following the vehicle’s relaunch last year, its co-manager says

Saba's former head of Europe lands at large credit hedge fund manager
The former head of Europe for Saba Capital Management has become a London-based credit manager's second major hire in four months

Founder looks to take structured credit manager Zais private
Founder Christian Zugel has bid to take Zais Group private, ending its two year stint as a public company

Barclays steps into reg cap synthetics boom
Barclays has dramatically stepped up its activity in “significant risk transfer”, becoming one of the most active originators of regulatory capital trades, according to market sources

Leading fund: Lupus Alpha CLO Opportunity Notes I
Single-B CLO trades boost Lupus Alpha asset Management

Saba to close London office, reports Reuters
$1.7 billion hedge fund manager Saba Capital Management is closing down its offices in London

Things aren’t always what they seem
Buy CLO triple As but don’t be fooled by diversity scores; take a look at credit index futures if you need liquidity; and watch out for quasi-mid market loans appearing in CLOs

Alva's 'disruptive' fund joins Creditflux listings
A London-based manager is making waves with a tech-focused credit fund