Jim Allen, CFA, head of Americas capital markets policy at CFA Institute, and Eric Boess, CFA, director and global head of derivatives at RCM Allianz Global Investors, discuss the impact of derivatives reform on global derivatives trading.
Of the shift fromover-the-counter (OTC) derivatives trades onto exchange-like structures, “The general idea to make markets more transparent and hence more stable is absolutely right. The problem is how you do it, and what you achieve on the way there might not be exactly only positive.”
Counterpoint has introduced an exchange-traded fund that buys ETFs that invest in US high-yield corporate debt and Treasurys maturing in three to seven years. The CP High Yield Trend ETF is linked to the CP High Yield Trend Index, which gives exposure to high-yield corporate bonds while minimizing risk during volatility. ETF Trends (23 Jan.)
The US Justice Department and state attorneys general will meet next week to exchange information on investigations into whether Google engages in monopolistic behavior, sources say. The discussion reportedly could lead to collaboration by the groups. Reuters (26 Jan.)
The European Central Bank's regulatory arm has signaled a more flexible approach to bank consolidations, sources say. "Somewhere in the back of their minds, the ECB realizes that the negative-rates environment is weighting on profitability of the banks, and they need to do something about it," Axiom Alternative Investments research chief Jerome Legras says. The Wall Street Journal (tiered subscription model) (26 Jan.)
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