Tullett Prebon’s chief executive Terry Smith wrote a letter to the International Swaps and Derivatives Association (ISDA) back in 2010 to question the rate setting process, but was ignored.
ICAP plc, a global interdealer broker and provider of post trade risk and information services, has warned that the introduction of the proposed Financial Transaction tax (FTT) will have adverse consequences for the economies of adopting countries and for funding costs for governments and corporates.
ICAP, the interdealer brokers, and Rapid Ratings, a rater or alternatives, are jointly launching a rating service covering the credit derivatives market.
Tradition-ICAP, the provider of a platform for trading interdealer currency options, has appointed Tim Johnson as its new head of Business Development in Asia.
EBS, the FX trading platform, has appointed Nichola Hunter as global head of product management.
Derivatives services firm TriOptima says it eliminated a record-breaking $62trn in notional principal outstanding in OTC derivatives in 2011.