Articles by Lukas Becker
New data and AI tipped to transform trading businesses
Isda AGM: New BNP Paribas system already creating counterparty trading probabilities for bonds
Euro clearing relocation ‘will inform’ US cross-border policy
Isda AGM: CFTC’s Giancarlo says geography has been no barrier for EU CCPs in the US
MEP: Basel too slow to deal with clearing capital clash
Isda AGM: Swinburne criticises Basel’s lethargy on clash between leverage and clearing rules
LCH warns on euro clearing land grab
Isda AGM: location policy would result in higher margin costs, lower liquidity, says Maguire
Margin rule mismatch spawns new VM funding cost for buy side
Settlement timing difference penalises back-to-back trades with US and EU banks
Derivatives sales 2.0: banks explore big data
Pressured banks hope new tools and technical nous will give their sales teams an edge
Variation margin relief sparks swaps pricing disputes
Banks divided over whether to price trades using current CSAs or theoretical new agreements
JFSA eases VM rules for cross-border trades
Japanese firms with non-compliant CSAs can trade with certain foreign counterparties from March 1
VM showdown a clash banks could not win
Clients clinging to hard-won CSA terms, in face of dealer calls for standardisation
Auditors: the extra line of defence
If CDS skew spikes, some banks may be thankful for conservative accountants
Trump victory: market whipsaw could spell exotics losses
Seesawing markets prompt speculation of big losses for structured product issuers
LCH targets non-cleared market with radical new platform
Bilateral trades would be valued and margined using LCH swap curves
LCH under scrutiny after outsized Brexit margin calls
Intra-day calls criticised by banks; FIA working group pushing for change
Traders blame bail-in for Deutsche CDS jump
Debt subordination behind spread widening from January; CVA desks may need to adjust hedge ratios
March margin deadline may force clients onto new CSAs
Dealers say they lack capacity to renegotiate thousands of existing collateral agreements
Banks missing margin transfer deadline due to timezone clash
Euroclear shuts at 12:15pm New York time, causing some US banks to miss T+1 cutoff
Banks prepare for bumpy ride as margin deadline looms
Banks and funds may have limited set of counterparties on September 1
Banks ‘hurting, but not dead’ after Brexit shock
Last-gasp hedges may have eased the pain of Brexit for some banks
Brexit hedging leaves Ficc books unbalanced
Market-making desks struggling to recycle some client flows ahead of referendum
Dealers renew push for standardised CSAs
Banks hope LCH platform will help cut costs and complexity as non-cleared margin regime looms
Strength turns to weakness for old OTC market
Non-cleared notional falls $36 trillion as costs and complexity grow
Banks fear huge losses on bond repacks in Japan
Dealers and investors face multi-million-dollar hits if rates continue to slide
Canabarro to join Barclays as model validation head
UK bank hires former Morgan Stanley risk analytics head
LCH-JSCC basis rockets for cleared yen swaps
Cost of receive-fixed swaps at JSCC jumps fivefold in a week