International Swaps and Derivatives Association (Isda)
Banks tout break clauses as capital mitigant
Breaking with tradition
Beyond Basel 2.5: regulators prepare trading book review
Beyond Basel 2.5
Greek auction result could undermine CDS use
An early trigger is unlikely, but fears of distorted auction outcome remain – and could undermine the use of credit default swaps as a hedge, say market participants
Banks criticise plan to deduct DVA from equity capital
Comment letters from Isda and Bank of Montreal argue Basel Committee proposal on DVA deductions goes too far
Downgrade termination costs
Downgrade termination costs
Market welcomes ‘pragmatic’ approach to central clearing by MAS
Singapore regulator wants central clearing but is agnostic over where it takes place
Basel DVA capital deduction could cost banks billions
Billions of dollars in capital could be excluded under Basel proposals on derivatives DVA - with US banks hardest hit
Dealers agree standard index CCDS documentation
The development of an index CCDS product will help market participants hedge counterparty risk, say proponents
Dealers tackle euro redenomination risks
Back to the drachma?
New Prime Finance panel could tackle debt crisis disputes
An arbitration panel set up to tackle derivatives disputes could also tackle eurozone debt crisis issues, says Jeffrey Golden, architect of the Isda master agreement
Risk and Energy Risk commodity rankings 2012: metals
Hard times for metals markets
Derivatives law firm of the year: Allen & Overy
Risk awards 2012
Standard CSA: the dollar dominance dispute
The dollar dominance dispute
US energy firms brace for position limits
The CFTC’s decision to press ahead with enforcement of the position-limits rule, despite an industry court challenge, means that US energy companies must get serious about compliance in 2012
New Zealand: a step in the right direction
A new draft version of New Zealand’s Financial Markets Conduct Bill was published for consultation in August. The bill provides greater clarity than the previous draft and removes uncertainty – but some further tweaks are needed, says Cindy Leiw of Isda
The dollar dominance dispute
Disputes over the valuation of collateralised derivatives trades have pushed the industry to develop a new standard credit support annex. A solution has been proposed – but some Asian banks have raised concerns about the dominant role given to the US…
HK margin rules on uncleared swaps should include exemptions, say market participants
HK margin rules on uncleared swaps should include exemptions, say market participants
Forex repository aiming for mid-2012 launch, says DTCC
Following the launch of the interest rate derivatives trade repository last week, the Depository Trust & Clearing Corporation confirms foreign exchange and commodities are the next priority
Quants call for Isda to clarify close-out values
Leading quants highlight ambiguity in Isda master agreement - but warn that resolving the issue could worsen systemic risk
Review of 2011: collateral, capital and chaos
Collateral, capital and chaos
Mifid II sets up clash between voice trading and transparency
Voice in the wilderness?
Cutting Edge introduction: clarity needed on credit adjustments
Credit and credibility
Close-out convention tensions
Close-out convention tensions
New standard CSA too dollar-centric, say Asian banks
Banks in Asia-Pacific complain about dollar dominance in new standard CSA – prompting Isda to rethink its plans