Early adopters of over-the-counter derivatives clearing tended to be the big beasts of the buy-side universe, but smaller firms – such as France’s OFI Asset Management – are coming on board as well. By Tom Osborn
Pension funds tend not to have a lot of cash lying around, making it difficult for them to meet clearing house margin calls. Specialist asset manager Insight Investment is pressing for a solution. By Tom Osborn
William Fall leaves FIG role at RBS; Deutsche hires London Whale quant; two new directors join Isda board; new clearing role for Wilson at Newedge; Byres to take top job at Apra
In the US, segregation of client assets is a simple matter – only one approach is allowed for over-the-counter trades. But in Europe, where there are more clearing houses, and no prescribed approach, things are messier. And it could be dealers, not...
CFTC chair says "it is critical" that US rules apply overseas, in article for Banque de France stability review
Europe and the US are at loggerheads over the territorial scope of new derivatives rules – as evidenced by a new financial stability review from the Banque de France – but agreement can be reached, says Sylvie Matherat, the central bank’s deputy...
The move to central clearing poses a huge documentation challenge. A standard template has been developed for European derivatives users – but will this solve the problem? By Duncan Wood and Lukas Becker
Cross-border resolution could be harder under US-style capital and liquidity plans, says Finma's head of bank supervision
Credit portfolio manager, Holderness, to be CRO for Europe; Lloyds lands Coutte to head rates; inflation market veteran Mirfendereski takes rates strategy role at HSBC; promotion for Miell at BGC Partners; Citi loses head of European OTC clearing
Switzerland went first – and furthest – on post-crisis banking reforms, making its industry a test case for the impact of the new regime. But it has not yet solved the too-big-to-fail problem, Mark Branson, chief bank supervisor at Eidgenössische...
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Policy-makers have incentive to accelerate deposit guarantee plans, says Sylvie Matherat of the Banque de France
Trading book capital measures were at heart of efforts to free up traders and reduce capital
Banks call for Basel Committee and Iosco to rerun study on impact of uncleared margin rules after errors emerge
A cross-section for CVA
Bank of England veteran lands top job at new UK prudential regulator; Kengeter leaves UBS; Getco names new management team; Goldman forex head departs; LCH.Clearnet names new US chief exec
Deal is said to pay a coupon of 11% for first-loss protection – which some investors say is too low
Rules see two-way posting of initial margin, but apply threshold of €50 million in counterparty risk