Luke Clancy is the London-based editor-at-large for Risk.net. Over the past 20 years spent in financial journalism, his previous positions have included: supplements editor, Risk magazine; editor of Hedge Funds Review, ETF Risk and Custody Risk (all formerly published by Incisive Media (now Infopro Digital)); senior investment writer, Investment Week (published by Incisive Media); deputy editor, Global Investor (Euromoney); managing editor, Engaged Investor and Pensions Insight (Newsquest Specialist Media); editor, World Mining Stocks (Aspermont UK); editor, Global Pensions and deputy editor, Professional Pensions (MSM International); online editor, Private Wealth Advisor and Offshore Red (Camden Publishing).
LSE chief slams clearing relocation proposals for trying to create captive European Union market
Council paper being debated today sets terms for swaps clearing landgrab
Fear of post-Brexit curbs on clearing and netting concerns propel shift to eurozone
Commission yet to work out details such as which products and what share of stock may have to move
As T2S approaches final migration, restrictions on primary dealers undermine efficiencies
CME, Ice and LCH treat variation margin as settlement; Eurex awaits further guidance
The week on Risk.net, August 25–31, 2017
Three factors slashed size of book by 25%, including move to treat margin as settlement
Questions about post-Brexit status of UK CCP could spark mass migration – and severe volatility
Two CCPs report interest from LCH customers; banks expect first book transfers in early 2018
Eurex set to challenge LCH estimates of clearing relocation costs
Firms say DLT can sit with current market practice, but instantaneous settlement 'not desirable'
AMF calls for equivalence to be scrapped for biggest CCPs and trade repositories