Derivatives
Private credit has outgrown its spreadsheets
Private credit severely lacks operating leverage, writes Daniel Hellwig, but standardizing how terms are recorded and applying AI could inch it toward maturity.
Red alert: how Nasdaq’s Smarts became surveillance blind spot
Software that looks for shifty trades has been asleep on the job, affecting alerts for hundreds of products.
Agentic AI for XVAs still five years away, experts say
Risk Live: Questions about validation and accountability keep autonomous AI models out of XVAs for now.
LSEG’s FXall to launch credit-intermediated FX forwards service
Split Risk to allow buy side to tap best spot and swap prices to create forwards, and unbundle market and credit risk
Pimco replaces Bloomberg EMS with TS Imagine
Fixed income giant is shrinking its Bloomberg EMS footprint, though not removing it completely, sources say.
SFC lifts lid on new Hong Kong FIC trading platform
Regulator sheds light on venue that could rival Bloomberg, Tradeweb in CNH market
LSEG’s TradeAgent to challenge swap confirmation monopoly
Post-trade platform aims to extend clearing efficiencies to bilateral markets beyond SwapAgent.
Esma supervision proposals ensnare Bloomberg and Tradeweb
Derivatives and bonds venues would become subject to centralized supervision if the proposed reforms go through.
Why UPIs could spell goodbye for OTC-Isins
Critics warn UK will miss opportunity to simplify transaction reporting if it spurns UPI.
Everyone wants to tokenize the assets. What about the data?
The IMD Wrap: With exchanges moving market data on-chain, Wei-Shen believes there’s a need to standardize licensing agreements.
S&P shutters NMRF solution amid audit questions
Vendors face adverse economics due to a low number of IMA banks and prospects of regulatory easing.
DTCC revamps tech abilities following global reporting overhaul
The Repository & Derivatives Services unit is implementing new technologies to help its clients keep up with changing reg reporting regimes.
Bolsa Mexicana embarks on multi-year modernization project
Latin America’s second largest exchange is embracing cloud and upgrading its infrastructure in a bid to bolster its global standing, says CEO.
Reporting overhaul: the EU’s near-impossible balancing act
Regulators must weigh their desire to streamline derivatives reporting against the need to gather crucial trade data.
Stakes raised for UK bond, EU derivatives tapes after Ediphy clinches win
The pressure is on for TransFICC, Etrading, Finbourne, and Propellant Digital, who are still vying to provide the UK’s fixed income consolidated tape after Esma awarded the EU’s tape to Ediphy and its partners.
Numerix strikes Hundsun deal as China pushes domestic tech
The homegrown tech initiative—‘Xinchuang’—is a new challenge for foreign vendors.
Best reference data initiative—Derivatives Services Bureau
The DSB wins Best reference data initiative at the IMD & IRD Awards 2025.
Nasdaq looks to Thailand, Broadridge grows patent portfolio, GenAI concerns, and more
The Waters Cooler: MarketAxess gains majority control of RFQ consortium, the Bloomberg Terminal integrates with BNP’s Exane, and Isda extends reg reporting support to new Canadian rules in this week’s news roundup.
XiNG: Inside Citi’s all-encompassing risk platform
Voice of the CTO: Citi’s chief information officer, Jon Lofthouse, explains how and why the bank has extended its enterprise-wide risk platform so that every trade in any asset class goes through it.
CFTC takes red pen to swaps rules, but don’t call it a rollback
Lawyers and ex-regs say agency is fine-tuning and clarifying regulations, not eliminating them.
ICE eyes year-end launch for Treasury clearing service
Third entrant expects Q2 comment period for new access models that address ‘done-away’ accounting hurdle