There’s no slowing down the banking industry’s mandated transition to Interbank Offered Rate (IBOR) replacements. Despite the many difficulties posed by ongoing public health and economic concerns, many banks still expect to complete their IBOR replacement projects by the deadline of year-end 2021. Their progress would be fine — if that were the only deadline.
Luminex Trading & Analytics LLC, a buy side-owned trading venue for block executions, has hired industry veteran Ilisa Gruber as a sales and relationship manager.
Based in Chicago, Gruber will oversee Luminex's relationships with top clients among its more than 200 buy-side, institutional investors.
In the latest development in the IBOR transition, on the weekend of July 25th, we saw the major CCPs perform the much-anticipated Euro discounting and price alignment transition from using EONIA to EuroSTR (a.k.a. €STR) for all Euro OTC interest rate products.
The Cassini Systems suite of analytics is now available via the IHS Markit thinkFolio service. The integration means firms using thinkFolio can now access pre- and post-trade analytics on their OTC portfolios, powered by the Cassini platform.
Refinitiv has launched a prototype Term SONIA Reference Rate, which will leverage the firm's experience in administering benchmarks to create a GBP forward-looking term risk-free rate that is published daily.
The rate will be available in one-month, three-month and six-month tenors, and Refinitiv expects to launch a regulated version of the rate towards the end of 2020.
Demand for greater transparency in the fixed income market has seen KP4 Pty Ltd, take a cornerstone investment in Liquidity Cube, an emergent market for fixed income execution and analytics that aims to revolutionise the liquidity matching process.
Cboe Global Markets plans to reopen its Cboe Options Exchange (C1) trading floor in Chicago and resume trading operations on the floor on Monday, June 8, 2020. Cboe expects approximately 50% of floor participants to return on that day, to a newly configured and larger trading floor.
Upon reopening, the floor will operate under precautionary measures to limit exposure to COVID-19.
Senior executives in the derivatives market expect the current volatility to last for weeks or months, according to the latest survey from Acuiti.
The complexity of the financial system is exacerbating uncertainty, and so governments and their respective central banks are compensating by pledging significant support: in effect they are guessing what the market’s guestimate of the potential damage is.