Articles by Lukas Becker
CME in talks to clear term SOFR basis swaps
US clearing house has held discussions with some dealers about clearing term SOFR-SOFR packages
Eurex clearing chief calls for active account carve-outs
Isda AGM: Müller says EU clearing thresholds should exempt market-making and US client trades
CCPs mull collateral options amid debt ceiling deadlock
Isda AGM: Raising haircuts and minimum maturities are among measures on the table to avoid a cliff-edge
EU’s gas price caps could ‘kill’ the market, Ice official warns
Isda AGM: Price controls discourage investment and undermine market confidence, Edmonds says
Fed’s Bowman confirms interdealer term SOFR ban
Isda AGM: Further softening ruled out after April reprieve lifts curbs on term SOFR basis swaps
Esma official calls for rethink of clearing incentives
Isda AGM: recent market events challenge some of the assumptions on mandatory clearing, says Löber
Why KfW revived an old idea for cross-currency collateral
Transport currency concept re-emerges at SwapAgent, but dealers warn of hidden FX risks
CVA desks avoided re-hedging as Credit Suisse teetered
As credit spreads blew out, dealers opted not to adjust rates and FX risks
Eurex eyes flexible FX futures
German exchange plans second-half launch in bid to attract users looking for swaps alternatives
SVB wouldn’t happen in Europe, says Deutsche CIB head
Campelli also thinks Credit Suisse’s bailed-in AT1 bonds acted as originally intended
MTS and WeMatch combine to launch euro swap MTF
New venue to start as interdealer but will soon take on Tradeweb in the dealer-to-client market
Crypto gets to grips with interest rate swaps
New derivatives provide synthetic access to staking yields and are being used in structured products
Isda docs saved crypto start-up that lent to Alameda
Early termination clause allowed Cega to recover $13.6 million in loans to failed trading firm
Crypto structured products come of age
After some growing pains, the space is now offering the type of structures seen in TradFi equities markets
Talking Heads 2022: Rates market ruckus
Inaugural interview series looks at how sell-side traders are adapting to a world of surging inflation and rates
UK pensions hit with £100m margin calls as gilts and sterling slide
At least three LDI managers request emergency capital as others consider unwinds to avoid default
Natixis fined for mismarking US rates and equities positions
Former rates trader overstated P&L by $25m, while equities traders smoothed profits after 2018 windfall
Goldman’s rates traders have been crowd-watching
Talking Heads 2022: Steepener unwinds in sterling were “canary in the coalmine”, says rates trading co-head
How Citi is handling topsy-turvy rates markets
Talking Heads 2022: Rate hikes and inflation have forced a rethink of the US bank’s hedging strategies
Will last look disclosures come to FX derivatives?
JPM and NatWest have published their swaps and options last look windows – will others follow suit?
Mediobanca’s Generali deal revives an old sec lending concern
BoE warns against lending shares to borrowers aiming to influence AGM votes, but will anyone outside the UK listen?
HSBC inflation head departs
Dariush Mirfendereski leaves UK bank after nine years
Rates correlations break down amid volatility surge
Dealers say go-to hedges are now too risky as old relationships fail
Netting law to push slew of Chinese clients into IM regime
Isda AGM: HSBC legal exec says internal approval process for netting opinion could buy more time to prepare