Lukas Becker is the derivatives desk editor for Risk.net. His topics of interest include over-the-counter derivatives pricing, collateral management, market infrastructure and legal risk. He is based in London.
He was previously the Europe, Middle East and Africa editor of Risk magazine.
A clearing house basis has opened up between JSCC and LCH on yen swaptions – despite neither clearing the product
Japan’s Totan had been first to show volatility basis; sources speculate traders wanted to avoid re-marking books
Moving from Libor to an RFR shouldn’t force margin requirement on legacy non-cleared trades, says UK regulator
Tax reform and Treasury issuance focuses bank US dollar funding pressures onshore
Gap between 30-year Libor and Sonia swaps surges 36% in three weeks
UK regulator follows up on statement from ESAs that urged forbearance
Firms postpone plans to start margining before January 3 in case EU regulators scrap new requirement
Bodies aim to align EU with other jurisdictions – hinting at end of unpopular rule
Expectations rise of forbearance after Council of the EU proposes buy side VM exemption
At least seven banks now using settled-to-market treatment for variation margin
Move follows guidance from US regulators; no word from Goldman on capital impact