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Coordinated global regulation for the over-the-counter (OTC) derivatives markets is creating a dramatically different market for interest rate swaps with central clearing for end-users, the use of organised trading facilities and increased transparency and reporting requirements.
In new research “The Changing Environment for Managing Interest Rate Exposure,” TABB Group says alternative methods of managing exposure will see greater adoption due to regulatory reform, specifically in the US and Europe where efforts will force standardised derivatives onto trading facilities with central clearing. This will create a new trading landscape for OTC interest rate swaps (IRS).
“New central clearing requirements for end-users
PLUS Markets Group has confirmed the details of the Swap Index Contract (SIC) which will be traded via PLUS Derivatives Exchange Ltd (PLUS-DX) and cleared through LCH.Clearnet Ltd (LCH.Clearnet). This is an important milestone towards the launch of PLUS-DX and the implementation of the strategy for the Company.
The SIC is an open-ended Index contract that provides exposure to full fixed-for-floating interest rate swaps via the FTSE Medium Term Interest Rate Swap (MTIRS) Index Series, which consists of 45 indices covering the USD curve from two to 30 years, including spreads and butterfly trades. Other major currencies are planned for
Sean Foley (pictured) has been appointed the Chief Financial Officer and Chief Administration Officer of Butterfield Fulcrum, a leading independent fund administrator, and FORS Limited, an independent provider of family office and wealth management reporting and administrative services.
Butterfield Fulcrum and FORS were recently brought together into one entity offering comprehensive outsourcing solutions across the alternative investment management, family office and trust industries. The two companies are run as separate businesses by their respective management. 

Prior to being appointed as CFO and CAO of Butterfield Fulcrum and FORS, Mr. Foley served as the Group Financial Controller for Butterfield Fulcrum. Foley,
Tokyo-based SPARX Group, Asia’s second largest hedge fund behind Hong Kong’s Value Partners Group, had a tough 2010.
As if being one of Asia’s highest profile hedge fund launches since ’07 wasn’t enough, Hong Kong-based Azentus Capita
Independent global markets and financial advisory firm StormHarbour has made two senior appointments to its team in Hong Kong: Hong H
Zen Investment Management Co is cutting its position on commodities by 30 per cent with a likely view to commence buying China and US stocks reported Bloomber
By Rosemary Wynne – One of the unique features of the Channel Islands Stock Exchange (CISX) is its Membership structure. In its short history, the CISX has more than doubled its membership – from twenty-four Founder Members at the launch of the CISX, to 57 Members twelve years on.The growing number of Members is very gratifying and demonstrates that the business model upon which the Exchange was based is as relevant today as it was at inception. Bulletin Board offers a special insight into the CISX business model.
Whilst there is no doubt that the CISX has fulfilled its
Long-short, emerging market, total-return specialist Finisterre Capital has appointed two new Portfolio Managers, Maxim Safonov and Rahul Sharma.
Safonov has joined the Finisterre Global Opportunity Fund, where he will be responsible for FX and local rates trading. He joins Finisterre from FrontPoint Global Macro Emerging Markets Fund, where he traded rates, credit, FX, equities and commodities. He began his career at ING Bank in Moscow, where he became Head of Financial Markets and Deputy Chairman of the Board. He then joined HSBC, first in Moscow and then in London, where he was Head of Local Markets Trading for Russia and
BNY Mellon Alternative Investment Services (AIS) has topped USD400 billion in assets under administration, making it the second largest provider of solutions to hedge funds, funds of hedge funds, and private equity investments globally.
Since 2008, BNY Mellon AIS has doubled its alternative assets under administration, fuelled by increased market share and its acquisition of PNC’s Global Investment Servicing business last July. The company has seen growth both in the number and complexity of fund structures serviced, plus strong demand for its ‘prime custody’ offering as more hedge fund managers opt for an independent third-party provider to handle custody,
