Creditex obtains CFTC swap execution facility exemption
Creditex, the electronic brokerage for corporate bonds and credit default swaps, has been granted an exemption from a requirement to register with the US Commodity Futures Trading Commission as a swap execution facility

Market favours retrospective over forward-looking approach to Ibor benchmark fallbacks, says Isda
New benchmark fallbacks for derivatives contracts that reference interbank offered rates are likely to be based on the “compounded setting in arrears rate” and the “historical mean/median approach to the spread adjustment”, the International Swaps and Derivatives Association has said

ESMA pushes for continued UK clearing access in event of no-deal Brexit
The European Securities and Markets Authority will support continued access to UK central clearing counterparties for EU clearing members and trading venues after 30 March in the event of a no-deal Brexit, the organisation has said

UK prepares derivative regs for no-deal Brexit
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

Derivatives margin threshold should be €100 billion notional not €8 billion, says Isda
A regulatory threshold that requires counterparties to post initial margin (IM) on derivatives trades if they hold €8 billion notional or more exposure should be raised to €100 billion, the International Swaps and Derivatives Association has argued

Isda extends deadline for derivatives benchmark consultation
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

Hard Brexit threatens systemic cliff edge for derivatives, warns joint paper
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

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

Alarm sounds on margin rules as small funds look to make early inroads
A fast-approaching 1 September regulatory deadline for phase three market participants to apply initial margin (IM) to derivatives trades looks set to pass without serious mishap, according to lawyers and the International Swaps and Derivatives Association

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.