In a world where central clearing and bilateral collateral posting are mandatory, margin efficiency will be a big draw, and one obvious way to achieve it is through cross-product margining. Unfortunately,...
Regulators are struggling to ensure they have oversight of over-the-counter market infrastructure without losing the benefits of centralisation. CLS Bank’s council of supervisors could be the precedent...
Insurance Risk and BNY Mellon have conducted a survey to look at how insurance companies are preparing for the new regime and the opportunities and challenges that the changes will bring.
More Dodd-frank act articles
Jefferies is suing International Derivatives Clearing Group over claims the central counterparty’s futures contracts would replicate over-the-counter swaps – a case that turns on collateral and margin differences in the cleared and uncleared markets....
Final US Commodity Futures Trading Commission rules on swap execution facilities (Sefs) are to be published in early 2012, a full year after the original proposals. As 2011 draws to a close, would-be Sefs complain the continuing uncertainty about key...
Big asset managers face some challenges in the move to central clearing – specifically, executing block trades and then allocating them across tens of sub-funds. Not all clearing members or central counterparties are set up to facilitate this, but progress...
After five years as secretary-general, Stefan Walter left the Basel Committee at the end of October. He accepts regulators had the wrong pre-crisis agenda, but argues Basel III puts things right. By Duncan Wood
Clients are currently able to agree with their clearing members to receive portfolio benefits on initial margin across cleared and uncleared positions. Proposed new rules would prevent such arrangements with respect to cleared swaps. Mariam Rafi of Citi...
Build or buy? It’s a key decision in every big IT project, and the shift to over-the-counter clearing is one of the biggest the industry has ever faced. Many dealers are adapting existing in-house systems, but vendors are also pushing off-the-shelf...
Swap futures have had some bad press in recent weeks, but Eris Exchange insists it can make them work - and add diversity to the OTC market as a result
This paper discusses a number of diverse considerations that risk managers need to incorporate into their thought processes and recurring procedures if they are to fulfill their role more effectively in the future
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