Articles by Joe Rennison
Segregation clash could stop European firms using US CCPs
Segregation clash
SEC capital rules could stunt CDS client clearing
One bank claims to have stopped work on its CDS client clearing service in the US over SEC capital rules - and others share those concerns
Indirect clearing: The capital conundrum
Draft European Securities and Markets Authority rules on indirect clearing caused uproar when they appeared in June. The regulator removed the most controversial elements in its final text, but dealers are still in the dark about the capital treatment…
Final Esma clearing rules too rigid, CCPs say
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
Esma backtracks on indirect clearing
Final rules remove two controversial proposals, but revive regulators' concerns about access to clearing for small firms
Indirect clearing to be overhauled in final Esma rules
Indirect clearing will not be compulsory, sources say – and a controversial 30-day guarantee for indirect clients will also be removed
OTC trade sizes could shrink under Mifid reporting rules
Market-makers will be uncomfortable taking on less liquid trades if instant reporting is required, warns a panel at Isda's European conference
Esma sidelined consultative group during rule-writing
Industry group was not convened as Esma drew up draft clearing rules
Risk interdealer rankings 2012: Dealers
Humps, back-downs and whales
Risk interdealer rankings 2012: Brokers
Calm before the storm
How Basel III is turning borders into barriers
Turning borders into barriers
Regulation to hit bank profitability - Risk survey
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
UK banks reveal size of eurozone funding gaps
Banks reduce cross-border funding of peripheral eurozone assets in an attempt to mitigate redenomination risk - but funding gap still tops £10 billion for Spain
Industry slams 'unworkable' Esma proposals on indirect clearing
Clearing members would be forced to guarantee trades executed by their clients' clients - on terms the member firms have not agreed
GFI may buy an exchange, says Gooch
Interdealer broker GFI may follow in the footsteps of Icap and acquire an exchange, says GFI Group chief executive
UK banks face up to SME swap misselling claims
Sales of the unexpected
Risk 25: How Basel III is turning borders into barriers
Turning borders into barriers
House of Lords committee chair warns of Mifid liquidity costs
Transparency and own-capital ban for OTFs could interfere with “free flow” of market, says Lord Harrison, chair of a House of Lords committee that yesterday warned of fundamental flaws in Europe’s Mifid review
Extraterritoriality remains a major issue, says FSA’s Lawton
Resolving issues around the extraterritorial application of derivatives regulation is a major outstanding issue that needs to be addressed, says FSA’s acting director of markets
Bank of England to post collateral in OTC derivatives trades
BoE thought to be the first major central bank to change policy on collateralisation as it seeks to reduce dealer funding charges
Banks hope for CCP capital concessions at Basel meeting
Banks and CCPs are pressing for changes to method of calculating default fund capital
Securitisation market seeks SPV clearing carve-out
Securitisation would be "a lot less viable" if SPVs do not qualify for clearing exemption, says Isda
Mifid amendments lift barrier to brokers owning OTFs
Tweaks to Mifid text would allow owners of OTFs to engage in matched principal trading