Articles by Nick Sawyer
OTC Derivatives Clearing Summit: Some FCMs charging five times more than others, says panel
Fees charged by clearing members can vary wildly – and low-cost providers may try to terminate relationships if they prove unprofitable, panellists warn
OTC Derivatives Clearing Summit: Joint solution needed on intraday margin calls, says panel
Dealers, clients and clearing houses need to work together to resolve problems caused by intraday margin calls, say panellists
OTC Derivatives Clearing Summit: Industry will struggle to meet clearing deadlines
Buy-side firms will struggle to finish legal and operational work ahead of US mandated clearing deadlines – and they are not the only ones, says panel
Sentiment could enhance risk models, says Algo’s Macdonald
Market sentiment could eventually be used as an input for risk and trading models, helping to predict future events, says John Macdonald of IBM Algorithmics
End-users will stop using derivatives – Risk.net poll
Proposals to require derivatives users to post initial margin on uncleared trades will cause many end-users to stop using derivatives, say a majority of survey respondents
Quant Congress USA: SEC using models to look for the next Madoff
A decision by the SEC to invest in quantitative research is paying off, with recent enforcements in the hedge fund space a result of warnings generated by models, says SEC chief economist
Lack of governance to blame for Libor scandal, says IMF official
A failure of bank governance is behind the recent Libor rate-fixing scandal – and these kinds of failings could pose systemic risks, says José Viñals
Quant Congress USA: Basel timelines meaningless, says panel
The banking industry is moving ahead with Basel III implementation – even in the US, where regulators only recently released their Basel III proposals
New CPSS/Basel guidance on FX risk management to be published soon
A new consultation paper on risk management practices in the FX market will be released in the third quarter – and may be published as early as this month
Jerry del Missier resigns in wake of Libor scandal
Barclays COO and long-time derivatives industry figure steps down hours after resignation of chief executive Bob Diamond
Risk & Return Brazil: BM&F Bovespa plans to integrate clearing houses
Plan to combine four clearing houses into one will result in margin efficiencies of 30-40%, the exchange estimates
Isda AGM: Gensler confident clearing location requirements will not be imposed
Regulators are unlikely to insist local currency trades be cleared domestically, says CFTC chair
Isda AGM: CCPs invited to join determinations committees
Central counterparties have been invited to join the Isda credit determinations committees – but they will not have a vote
Isda AGM: Deadline for global uncleared margin proposals likely to be met, says panellist
A Federal Reserve deputy associate director says he is confident regulators will meet a June deadline to draw up a consultation paper on global margin standards for uncleared trades
Isda AGM: ‘Life as we know it will change,’ says O’Connor
New regulations will help reduce systemic risk, but changes need to be made to certain parts of the rules, Isda chairman says
Cross-border confusion between domestic clearing houses
Cross-border confusion
Cutting complexity with a new standard CSA
Cutting complexity
Challenges and opportunities for Isda in 2012
Challenges and opportunities
Tentative on G-20 timelines for OTC derivatives clearing
Tentative on G-20 timelines
SIG to keep an open mind on RWA probe, says Himino
The Basel Committee’s standards implementation group has begun an investigation into RWA consistency, but chair Ryozo Himino says there might be good reasons for discrepancies
Isda working group close to finalising standard CSA
Latest proposal extends number of silos from five to 17, mirroring approach taken by LCH.Clearnet
Risk Annual Summit: Buy-side firms call for clearing changes
Eligible collateral for CCP margin needs to be reviewed – and regulators also need to ensure the clearing exemption for some end-users is not negated by Basel capital rules, say buy-side firms