Regulator has not given clearing houses enough freedom to calculate margin requirements, critics say - and Europe's CCPs may have to charge more for futures than their US rivals
Indirect clearing will not be compulsory, sources say – and a controversial 30-day guarantee for indirect clients will also be removed
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More Joe Rennison articles
Market-makers will be uncomfortable taking on less liquid trades if instant reporting is required, warns a panel at Isda's European conference
Industry group was not convened as Esma drew up draft clearing rules
During 2012, markets have not seen the wild volatility of recent years, but these stomach-churning switchbacks have been replaced with something that is arguably tougher for dealers to handle – a drop in volumes and liquidity. Deutsche Bank has been...
Increasing prices on cross-currency swaps as a result of Basel III’s credit valuation adjustment charge are making it harder for companies to issue bonds overseas – this is just one example of the fragmentation of global capital markets
Thousands of firms are likely to be caught by the over-the-counter clearing mandate – but banks offering client clearing services say they can only take on a limited number of customers. As things stand, those frozen out would be unable to trade. Joe...
Dealers expect new rules to hit the profitability of their business, but fewer expect to be able to pass the costs along – and more are anticipating a big drop in OTC trading volumes
In response to industry fears of a collateral crunch, regulators have revised the proposed rules on margining for uncleared over-the-counter (OTC) derivatives.You can find out more by downloading this white paper here.
Topics of interest
Hong Kong, 1st - 31st Dec 2014
Japan, 24th Apr 2014
Japan, 24th Apr 2014
USA, 30th Apr 2014
USA, 8th - 9th May 2014